White House Confirms No ’Golden Share’ in TikTok Amid Ownership Restructuring

The Biden administration has ruled out acquiring a 'golden share' in TikTok as part of the platform's U.S. restructuring, Bloomberg reported. ByteDance faces mounting pressure to divest its American operations or risk a nationwide ban. The proposed solution transforms TikTok's U.S. branch into a domestically headquartered joint venture with a predominantly American board—marking a stark contrast to the TRUMP administration's equity-based approach with companies like Intel and U.S. Steel.

Oracle emerges as a key player in the deal, taking responsibility for algorithm oversight following Trump's extended deadline for TikTok's operational transition. The tech giant's existing data infrastructure ties to TikTok position it as a natural custodian for U.S. user data security.