Oracle, Silver Lake and Abu Dhabi’s MGX will be main investors in TikTok’s U.S. business, sources says. Those three entities will control roughly 45% of TikTok USA. ByteDance, TikTok’s Chinese parent, will own 19.9%.

Oracle, Silver Lake, and Abu Dhabi-based investment fund MGX will be the main investors in the newly formed TikTok USA, according to sources familiar with the matter. Together, these three groups will control approximately 45 percent of the new entity, while ByteDance, TikTok's current owner, will retain a 19.9 percent stake. The remaining ownership will be held by a consortium of existing ByteDance investors, including General Atlantic, Susquehanna, Sequoia, and KOTU. The new TikTok USA will have a seven-person board, with at least one seat allocated to ByteDance. The restructuring is expected to address national security concerns and meet legal requirements set by the U.S. government.

Sources: Oracle, Silver Lake, MGX to be main investors in TikTok U.S.

We've got breaking news on TikTok. David Faber's got the latest. David. Melissa, thanks. Yeah, of course, we're awaiting the president's signing of that executive order, filling in some blanks here in terms of what we can expect when we get that, and some things related to, of course, what will be the creation of TikTok USA, essentially. Take a look at shares of Oracle right now as well. First of all, as for the declaration or the EEO, excuse me, that we're going to get from the president, it is essentially going to say that as currently contemplated and as we've been reporting, the divestiture will meet the requirements under the statute of the law that was passed by Congress to be considered a qualified divestiture of TikTok, such that it no longer poses any sort of national security threat to the United States. So that is largely what we're expecting to see in the executive order. The president will sign roughly two hours from now. A couple of other things, though, that we're learning about the ownership group. And again, I've been reporting on this previously, but can add one more key investor, and that is the Abu Dhabi-based investment fund of MGX, which I am told by people familiar with the situation will join with Oracle and Silverlake in what is going to essentially be the largest single ownership group of the new TikTok USA. Together, those three will control roughly 45 percent of the ownership of TikTok USA. As we have previously reported, 19.9 percent will be owned by ByteDance, the company's current owner, and then the remaining roughly 35 percent will be a large group of investors made up of virtually, I'm told, all of the existing ByteDance owners. Remember, that's an enormous private Chinese company that conceivably will do as much as $50 billion in net income this year. And so investors there include the likes of General Atlantic and Susquehanna, Sequoia, KOTU, many if not all of them expected to roll it, not roll in, to actually also be contributing to equity in the new TikTok USA, and then a group of other smaller investors as well, smaller in terms of dollar size, unknown at this point. I know the president has mentioned Michael Dell or Rupert Murdoch, unclear whether they will have any real ownership stake here at all. But what we can tell you is, and a new name, at least as far as I can remember, Melissa, is MGX's name now at the forefront of that group that will control 45 percent of TikTok. It will have a seven-person board. Some of that may have been previously reported. One seat I know will go to ByteDance, unclear in terms of the other governance that goes along with it. But clearly, Oracle, SilverLake and MGX will have an important seat at that board, of course, when this becomes an independent entity apart from China, other than licensing the algorithm.

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