The US government will not take a golden share or equity stake in the new entity set to control TikTok’s American operations, a White House official said on September 22.

Under the proposed arrangement, the board overseeing TikTok US will not include any members appointed by the US government.

The plan aims for Americans to occupy six of the seven board seats, but the full investor lineup has not been finalized.

President Trump is expected to issue an executive order this week, giving investors 120 days to finalize the deal, which could value TikTok’s US business at up to US$40 billion.

Oracle and Silver Lake are part of a consortium set to take majority control of TikTok’s US operations, with ByteDance, the platform’s Chinese parent, retaining a stake below 20% to comply with US national security law.

The transaction is part of a broader effort to force ByteDance to divest its US business under national security law.

Further details, including Beijing’s final approval, remain pending.

🔗 Source: Bloomberg

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