Chinese tech giant ByteDance has reached a deal over ownership of TikTok for the social media platform to stay active in the United States.

TikTok announced the deal on Thursday evening after a six-year campaign to ban the app under Chinese ownership from the United States. Congress passed legislation over a year ago that could have spelled the end of TikTok in the United States, but President Donald Trump postponed the ban from going into effect beyond the bill’s stated grace period to reach a deal.

Since 2019, a conglomeration of people and entities have sought legal action against TikTok, while a bipartisan group of lawmakers has sought an outright ban over concerns that the platform was being used by China to steal from and spy on Americans.

The effort to ban TikTok was resisted by social media influencers who have used the platform to further their careers, as well as Trump, who prioritized negotiating with ByteDance to sell off the platform to allow it to continue to operate in the United States.

Under the terms of the deal, a new U.S. version of the app will be created, which will be 80% owned by international investors.

TikTok’s Thursday statement listed the new group of international owners. The largest owners outside of ByteDance itself are the software giant Oracle, the Emirati investment firm MGX, and U.S.-based investment firm Silver Lake. ByteDance will retain 19.9% ownership of the U.S. version of the platform while the other big three will each have 15%.

“Completing the full consortium of investors are: Dell Family Office, the investment firm of Michael Dell, Founder, Chairman and CEO of Dell Technologies; Vastmere Strategic Investments, LLC, an affiliate of Susquehanna International Group, LLP; Alpha Wave Partners; Revolution; Merritt Way, LLC controlled and managed by partners of Dragoneer; Via Nova, an affiliate of General Atlantic; Virgo LI, Inc., investment arm of a foundation established by Yuri and Julia Milner in support of science; and NJJ Capital, the family office of Xavier Niel, a French entrepreneur and pioneer in telecommunications,” the statement from TikTok explained.

Oracle will become the manager of all U.S. user data on the platform.

“TikTok USDS Joint Venture’s mandate is to secure U.S. user data, apps and the algorithm through comprehensive data privacy and cybersecurity measures. It will safeguard the U.S. content ecosystem through robust trust and safety policies and content moderation while ensuring continuous accountability through transparency reporting and third-party certifications,” the announcement stated.

U.S. envoys met with Russian President Vladimir Putin for over three hours to discuss a potential deal aimed at ending the nearly four-year war in Ukraine.

Trump confidants Steve Witkoff and Jared Kushner, along with newly-appointed Board of Peace senior advisor Josh Greunbaum, met with Putin at midnight Thursday as the World Economic Forum in Davos comes to a close.

A video clip shared by the Kremlin on Telegram showed Putin, joined by his foreign policy aide, Yuri Ushakov, and special envoy, Kirill Dmitriev, shaking hands with the envoys prior to the meeting.

The group discussed the 20-point peace plan to end the Russian invasion, which has been held up due to key disagreements on Russian demands for land in Eastern Ukraine, much of which Ukraine has successfully defended at this point in the war.

The outcome of the meeting was unclear in the immediate aftermath of the talks, which were held shortly after President Trump said a deal was “reasonably close” and Witkoff said a deal hinged on one last issue, according to Reuters.

Trump met with Ukrainian President Volodymyr Zelensky hours earlier at Davos, describing the conversation as “good” to reporters aboard Air Force One.

“We’re discussing things that have been discussed for six or seven months, and he [Zelensky] came, and he said he wants to make a deal because I wasn’t necessarily sure. I think he should want to make a deal,” Trump said. “President Putin would like to make a deal. I think that President Zelensky would like to make a deal.”

.@POTUS on his meeting with President Zelensky in Davos: “We’re discussing things that have been discussed for six or seven months and he came and he said he wants to make a deal because I wasn’t necessarily sure. I think he should want to make a deal.” pic.twitter.com/89LxjlmJTs

— Rapid Response 47 (@RapidResponse47) January 23, 2026

Zelensky blasted European leaders during his Davos speech on Thursday for what he called their inaction against Putin.

“Europe loves to discuss the future, but avoids taking action today,” Zelensky said. “Where is the line of leaders who are ready to act?”