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TikTok fact-checks: US IPO, Chinese ownership, $5B in taxes

There is no shortage of speculation and reports around TikTok’s future in the U.S. Amid a swirl of rumors, TikTok’s Chinese parent ByteDance issued a statement (in Chinese) on Monday morning, bringing clarity to its ongoing deal that has captured global attention over the past few weeks.

ByteDance is still the owner


China’s ByteDance confirms it will retain an 80% stake in TikTok after selling a total of 20% to Oracle, its “trusted technology partner,” and Walmart, its “commercial partner.”
But the arrangement doesn’t address the core of many observers’ worries, as my colleague Jonathan Shieber argued: “The deal benefits everyone except U.S. consumers and people who have actual security concerns about TikTok’s algorithms and the ways they can be used to influence opinion in the U.S.”
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