Larry Ellison Retakes No.3 Richest Spot From Jeff Bezos As Oracle Shares Rise On TikTok Deal

The deal is expected to close next month, with Oracle, Silver Lake and MGX owning 45% of TikTok’s U.S. business.

TikTok's new US owners won't control key parts of the business, according to a leaked memo

TikTok's new US joint venture will hand over national-security related tasks to its partners, while ByteDance holds onto key business lines.
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Is TikTok — Not AI — What Saves Oracle?

Oracle (NYSE: ORCL) shares are jumping 5% in premarket trading this morning, following news that TikTok’s parent company ByteDance signed binding agreements to form a U.S. joint venture majority-owned by American investors.

Oracle’s stock is rising. Why TikTok’s U.S. deal could be good news for the tech company.

A memo from TikTok’s top executive reportedly says that the social-media phenomenon inked deals to create a U.S. joint venture, with Oracle’s cloud business as its backbone.

TikTok's US arm has been sold, in a deal that one Senate Democrat says won't do 'a thing to protect the privacy of American users'

The deal won't do "a thing to protect the privacy of American users," said Senate Democrat Ron Wyden of Oregon, who voted against the 2024 bill. "It's unclear that it will even put TikTok's algorithm in safer hands."

TikTok finally agrees to sell its US operations after years of drama

The Chinese-owned social media giant will divest its U.S. entity to a joint venture controlled by American investors.
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