It sounds like Trump pals Larry Ellison and Marc Andreesen are about to get their hands on TikTok’s U.S. operations.
Ellison’s software giant Oracle, Andreesen’s venture capital firm Andreesen Horowitz, and private equity firm Silver Lake are among a group of U.S. businesses said to be nearing a deal to take over the American operations of the short-form video app, according to a report from The Wall Street Journal.
The deal would create a new U.S. entity to control the app’s U.S. operations. American investors would hold an 80% stake in the new company, with the remaining 20% allocated to Chinese investors. The new company’s board would have one member designated by the U.S. government.
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