White House confirms no “golden share” in TikTok

Donald Trump is staying out of TikTok’s wallet. The White House confirmed Monday that the President has no plan to grab an ownership stake or take a so-called “golden share” in the video-sharing giant, as the U.S. moves forward with a deal to restructure the platform’s American operations.

This update came during a press call reported by Bloomberg, as pressure mounts on ByteDance, TikTok’s parent company, to split from its U.S. business or face a nationwide ban.

A senior official said the new arrangement would turn TikTok’s U.S. branch into a joint venture based in the United States. The structure will include a board made up mostly of American citizens. The government will not own any part of the company and will not have any direct control over its operations. 

That’s a big difference from how Trump has handled other takeovers during his presidency. Since returning to office in January, Trump’s administration has taken equity in both Intel and U.S. Steel, securing golden shares that give him veto authority on major decisions. But TikTok? Not this time.

Trump delays TikTok ban, Oracle takes over security

Last week, Trump signed an executive order pushing the ban deadline on TikTok until December 16. That’s not the end of it. Another executive order is expected soon, giving the company 120 more days to wrap up its deal with investors and close out the legal work. The official on the call said the President supports the current terms and wants to give the parties space to get it done.

As part of this plan, Oracle (the U.S. tech company already linked to TikTok’s data infrastructure) will now be responsible for overseeing and reviewing its algorithm, as Cryptopolitan previously reported. The goal is to stop any foreign abuse of the platform’s powerful recommendation engine.

“Oracle will inspect and monitor the algorithm to ensure it isn’t used for malicious purposes,” the official told reporters. The entire system will now be handled inside the U.S. under the new venture. ByteDance will no longer be allowed to control the algorithm or the user data tied to American accounts.

ByteDance has not yet signed off on everything, but it has agreed in principle to the framework of the deal. The process isn’t complete. The agreement still has to go through antitrust checks to ensure it doesn’t violate U.S. laws on fair market competition. But once it’s done, users won’t need to do anything. The official said TikTok’s American users won’t be forced to download a new version of the app.

The ownership breakdown is still being finalized. But one key requirement is already locked in. ByteDance won’t be allowed to hold more than 20% of the new U.S. business. That aligns with the law passed by Congress, which had rare bipartisan support. Lawmakers from both parties have been loud about their concerns over TikTok’s algorithm and the way it may influence or collect information from American users.

Despite the ongoing legal steps, the White House doesn’t expect any more back-and-forth with Beijing. The official said no additional talks with Chinese officials are needed at this point. Chinese President Xi Jinping has acknowledged that discussions are moving along, but he hasn’t publicly said whether his government supports the final terms.

One big number still hangs over the table: the valuation. TikTok’s U.S. business is currently estimated to be worth between $35 billion and $40 billion, though that figure might change fast. The tech sector has seen rapid inflation in company values thanks to the ongoing artificial intelligence boom. ByteDance, Oracle, and every investor involved know they’re racing a ticking clock, but the White House says the deal can still be wrapped up in time.

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