this post was submitted on 27 Apr 2024

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TikTok will not be sold, Chinese parent ByteDance tells US (www.bbc.com)

submitted 5 months ago by NightOwl@lemmy.ca to c/worldnews@lemmy.ml

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[–] davel@lemmy.ml 10 points 5 months ago* (last edited 5 months ago) (1 children)

it’s fully owned and operated by people in China

US private equity firms own more than anyone. WSJ: What Is TikTok Worth? Some Say $20 Billion, Others Say $100 Billion

[ByteDance founder] Zhang owns 20% of ByteDance, according to the company, though super shares have given him larger voting rights. Roughly 60% of ByteDance is owned by global institutional investors including Carlyle Group, General Atlantic and Susquehanna International Group. The remaining 20% is owned by company employees.

The CEO is Singaporean Shou Zi Chew and the VP is American Michael Beckerman.

[–] protist@mander.xyz 2 points 5 months ago

TikTok is a subsidiary of ByteDance, and that the Chinese government exerts significant political influence over ByteDance really is not a question