436

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

submitted 6 months ago by NightOwl@lemmy.ca to c/worldnews@lemmy.ml

291 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[-] davel@lemmy.ml 10 points 6 months ago* (last edited 6 months ago)

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 6 months ago

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

this post was submitted on 27 Apr 2024

436 points (97.0% liked)

World News

32274 readers

599 users here now

News from around the world!

Rules:

Please only post links to actual news sources, no tabloid sites, etc
No NSFW content
No hate speech, bigotry, propaganda, etc

founded 5 years ago

MODERATORS

Rumblestiltskin@lemmy.ml

AgreeableLandscape@lemmy.ml

jackmarxist@lemmy.ml

zephyreks@lemmy.ml

OurToothbrush@lemmy.ml