TikTok in Limbo: What’s Really Going On with the U.S. Deal?
After years of tension and regulatory pressure, a new chapter in TikTok’s U.S. saga is unfolding. In September 2025, President Trump signed an executive order that greenlights a path for the sale of TikTok’s U.S. business to American investors. The move comes after multiple deadline extensions, legal battles, and deep concerns in Washington over data, security, and foreign influence.
Though the decision signals progress, many details remain unsettled. As negotiations intensify, observers are watching closely to see who will ultimately control TikTok in the U.S., how the app will change (or not), and what the transition means for its tens of millions of users.
Who Might Buy TikTok U.S. — And Who Stays In
Insiders suggest a consortium including Oracle, Silver Lake, and Andreessen Horowitz could take on the majority stake in the new U.S. TikTok entity. These investors may hold around 80%, while Chinese stakeholders would retain the remainder. The board is expected to be dominated by U.S. appointees, with one slot reserved for government involvement.
Oracle is poised to play a central role in safeguarding the platform’s security and integrity. It already provides cloud services for TikTok in America and is rumored to be tasked with replicating and securing the algorithm used for U.S. users. Under the terms reportedly on the table, ByteDance would no longer have access to user data in the U.S. nor influence over the U.S. version of its algorithm.
Other names floated in connection with the deal include Rupert Murdoch and his son, as well as Dell Technologies’ CEO Michael Dell. In earlier conversations, Trump himself hinted that such media heavyweights could be involved.
How the Transition Could Affect TikTok Users
One of the biggest uncertainties is how the app might change for existing users. Some reports suggest that TikTok as it currently exists in the U.S. may be shut down, with users needing to migrate to a new platform under the new ownership. But many details — such as user experience, features, and data access — remain murky.
In short: if the deal finalizes, you might still have TikTok — but it may operate differently under new ownership and stricter data separation rules.
How We Got Here: A Brief Backdrop
To appreciate how we arrived at this tense moment, a quick review is necessary. The controversy began in August 2020, when the Trump administration sought to ban TikTok by cutting off transactions with its parent company, ByteDance. That effort was challenged in court, and a judge blocked the order, allowing TikTok to continue operating as legal wrangling played out.
Under the Biden administration, pressure on TikTok persisted. In 2024, Congress passed legislation targeting TikTok’s operations in the U.S., and President Biden signed it into law. TikTok pushed back, arguing that restrictions threatened free speech and would negatively affect American users.
Now, President Trump’s renewed push for a compromise approach—rather than an outright ban—reflects a more middle path. His executive order seems designed to preserve functionality for users while addressing security concerns through new ownership rules.
