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.

TikTok’s Chinese owner, ByteDance, has signed binding agreements to transfer control of the app’s U.S. operations to a new investor-led entity, marking a major step toward avoiding a nationwide ban and ending years of political uncertainty.

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 ownership structure limits ByteDance’s control, addresses US security concerns, and reduces the immediate risk of TikTok being banned in the United States.

ByteDance reaches a binding agreement to restructure TikTok U.S. ownership with American investors ahead of January 22 closing.

TikTok, which is owned by China’s ByteDance, has inked an agreement to sell a majority of its US business to three investors. The deal, which is slated to close on January 22, 2026, brings to an end years of contentious back-and-forth between the United States and China over control of TikTok.

If achieved, the projected 2025 profit would bring ByteDance’s results in the range of Meta Platforms. ・ByteDance has reached an agreement to sell TikTok’s U.S. business. ・Oracle Corp. (ORCL), Silver Lake,