ByteDance Ltd. is on track for profits of roughly $50 billion in 2025, capping a record year for a Chinese social media leader making major inroads into e-commerce and new markets.

The deal “marks the end of years of uncertainty” about TikTok’s fate in the U.S., The Associated Press said. Congress passed a law that “would ban TikTok in the U.S. if it did not find a new owner,” but after the platform briefly went dark in January,

In a memo to staff reviewed by Reuters, TikTok CEO Shou Zi Chew confirmed that all US data “will be stored in a trusted and secure cloud environment in the United States run by Oracle,” with Oracle ultimately responsible for safeguarding US data.

A new U.S.-based joint venture would keep TikTok online while handing oversight of its algorithm and data security to some of America’s wealthiest investors.

Going forward, nearly half of the new entity, TikTok USDS Joint Venture LLC, will be controlled by investors including Oracle, Silver Lake and MGX. Current ByteDance investor affiliates will own around 30 percent, and ByteDance itself will control just under 20 percent.

TikTok announced a deal to sell its U.S. assets to a group of three companies. One of them was co-founded by this Florida billionaire.

Oracle, Silver Lake, and MGX each secured 15% stakes in the newly formed JV, while ByteDance retains 19.9% ownership of what was once their crown jewel.

(THE CONVERSATION) Chinese tech giant ByteDance has signed an agreement to sell a majority stake in its video platform TikTok to a group of U.S. investors. President Donald Trump announced a preliminary agreement for the sale on Sept. 19, 2025, following his negotiation with Chinese leader Xi Jinping.