The widely popular video-sharing platform TikTok has finalized an ownership restructuring that establishes a majority American-owned entity committed to supporting the creative economy built around the platform. The announcement Thursday emphasizes protecting creative livelihoods alongside implementing security.
ByteDance, the Chinese technology conglomerate that created TikTok, has agreed to reduce its ownership stake to 19.9% in the American entity, while US investors assume controlling interest with 80.1%. Oracle, Silver Lake, MGX, and Michael Dell’s firm create ownership understanding the creative economy’s importance.
This resolution protects a creative economy extending beyond traditional influencers to include musicians using TikTok for music discovery, comedians building audiences, educators teaching through short videos, artists showcasing work, dancers sharing choreography, and countless other creative professionals using the platform as creative outlet and income source. This creative ecosystem generates economic value while enriching American culture. A ban would have disrupted creative careers and cultural production.
Leadership of the American entity will be entrusted to Adam Presser as CEO, with understanding of the platform’s role supporting creative expression and creative economy. The seven-member board provides governance supporting continued creator-focused features. Shou Chew participates as a board member ensuring creative priorities continue.
The new US entity maintains creative economy features while implementing security: comprehensive data protection, algorithm security, enhanced moderation, and software integrity address security concerns while preserving creator monetization tools, discovery features, creative effects, music libraries, and collaboration tools supporting creative work. The recommendation algorithm undergoes US-data retraining while maintaining discovery mechanisms helping creative content find audiences. Creator support programs, monetization features, and creative tools continue under American ownership. Both governments approved this creative economy-supporting resolution.
