80% of TikTok would be controlled by Oracle $ORCL, Silver Lake, and A16z

TikTok’s U.S. operations would be overseen by an investor consortium that includes Oracle (ORCL.N), Silver Lake, and Andreessen Horowitz, under a framework now being finalized between Washington and Beijing, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

A new entity is set to be created to run TikTok, with U.S. investors holding around 80% and Chinese shareholders retaining the rest, according to the report. The company would be governed by a board dominated by Americans, with one seat designated by the U.S. government.

Current users of TikTok will be asked to migrate to a new app the company has already built and is testing, the Washington Post reported. In July, Reuters had noted that TikTok was preparing a standalone app for U.S. users, designed to operate with a separate algorithm and data infrastructure from the global version.

Oracle would be responsible for managing user data at its facilities in Texas, the WSJ said. While the U.S. and China continue to work through the details, the terms of the deal could still change.

TikTok, Oracle, Silver Lake, and Andreessen Horowitz (a16z) did not immediately respond to Reuters’ requests for comment.

On Tuesday, President Donald Trump signed an executive order delaying the enforcement of a 2024 law requiring TikTok’s Chinese ownership stake to be divested until December 16. Earlier in the day, he also announced that the U.S. and China had reached an agreement allowing TikTok to continue operating in the United States.