According to a reliable source who has been briefed on the matter, it is expected that U.S. investors, including technology giant Oracle Corp, will hold a majority stake of at least 60% in the newly formed company, TikTok Global. In an effort to address national security concerns, the U.S. Treasury has submitted a revised term sheet to ByteDance, the Chinese parent company of TikTok. Under the terms of this agreement, TikTok Global will be predominantly directed by American board members and will have an American CEO. Oracle has already confirmed its intention to acquire a 20% stake in the company, while retail giant Walmart Inc is also expected to have an equity stake and a seat on the board.

However, the final approval of this deal lies in the hands of U.S. President Donald Trump, and it remains uncertain whether he will give his consent to the proposed terms. President Trump has expressed his discontent with U.S. investors holding only a minority stake in TikTok Global. Presently, American investors own a 40% stake in ByteDance, with companies like Sequoia Capital and General Atlantic among them. If the partnership with Oracle and Walmart goes through, U.S. investors will have a significantly larger share of the company.

Although TikTok is particularly popular among teenagers for its viral dancing videos, U.S. officials have raised concerns about potential data sharing between the platform and the Chinese government. TikTok has consistently denied any such data sharing and has reassured users that their information is secure. As of now, the financial details of Oracle’s stake in TikTok Global have not been disclosed, and both Oracle and the Treasury have refrained from commenting on the matter.

Mark Meadows, the White House Chief of Staff, has stated that the administration is thoroughly reviewing the specifics of the proposed deal to ensure it aligns with national security requirements. Meadows emphasized that if TikTok remains primarily controlled by Chinese entities under the Oracle agreement, it would not be in line with President Trump’s objectives.

Previously, reports by CNBC and Bloomberg News have shed some light on the agreement between ByteDance and the Treasury, providing early insights into the potential terms of the deal.

For more information on the TikTok saga and the ongoing negotiations, you can visit the following links:
1. CNBC: Oracle, Walmart to Take Stake in Chinese App TikTok Global Business
2. Bloomberg News: Oracle Joins Race to Acquire TikTok, Perhaps With Help From the President