TikTok Americanizes: White House: US holds 6 of 7 board seats, Chinese directors banned from security committee
Bloomberg News reported that White House spokesman Levitt revealed in an interview on the 20th that under the agreement reached this week between the US and China, ByteDance’s TikTok business in the US will be majority-owned by Americans, with six of the seven board seats held by Americans and the app’s algorithms controlled by the US. The final agreement is expected to be signed and ratified within days.
Bloomberg News reported that White House spokesman Levitt revealed in an interview on the 20th that under the agreement reached this week between the US and China, ByteDance’s TikTok business in the US will be majority-owned by Americans, with six of the seven board seats held by Americans and the app’s algorithms controlled by the US. The final agreement is expected to be signed and ratified within days.
According to a senior White House official, US board members will have backgrounds in national security and cybersecurity, while the remaining ByteDance-appointed director will be excluded from the security committee.
The White House official revealed that ByteDance’s stake has fallen below 20%, with new investors including Oracle, private equity firm Silver Lake, and venture capital firm Andreessen Horowitz.
In addition, the official stated that Oracle will serve as TikTok’s security provider, working with the US government to monitor the app’s security. US user data will be stored in the US, with no access by China.
