TikTok CEO Shou Zi Chew told employees in a memo that TikTok has signed an agreement supported by Donald Trump to divest its U.S. assets and create a new entity with a group primarily composed of American investors. Oracle, Silver Lake, and Abu Dhabi-based MGX will collectively own 45% of the entity named "TikTok USDS Joint Venture LLC." ByteDance retains nearly 20% of the shares.
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