MGX

MGX is a private-equity group that owns 80.1% of TikTok's new US entity, allowing the social media platform to continue operating in the US after years of legal uncertainty. The deal was finalized by ByteDance, TikTok's Chinese owner, and includes investors such as Larry Ellison's Oracle and Silver Lake. This move comes as part of efforts to comply with a 2024 US law aimed at addressing national security concerns over TikTok's ownership. The new entity will operate under the TikTok USDS Joint Venture, which was established to safeguard the American content ecosystem. With this deal, TikTok has sidestepped a ban and can continue to operate in the US, marking an important development in its efforts to navigate complex regulatory landscape.