![]() ![]() ByteDance confirmed that 60% of its shares are owned by global investors, 20% by employees and 20% by its founders.ĬFIUS, a powerful national security body, had unanimously recommended in 2020 that ByteDance divest TikTok. The Wall Street Journal first reported the move. ![]() Treasury-led Committee on Foreign Investment in the United States (CFIUS), which demanded that the Chinese owners of the app sell their shares, and said otherwise they would face a possible U.S. ![]() TikTok spokesperson Brooke Oberwetter told Reuters that the company had recently heard from the U.S. Biden's predecessor, Republican Donald Trump, had tried to ban TikTok in 2020 but was blocked by U.S. It is also the first time under the administration of Democratic President Joe Biden that a potential ban on TikTok has been threatened. ByteDance-owned TikTok has more than 100 million U.S. user data could be passed on to China's government. officials and legislators who have raised fears that TikTok's U.S. The move is the most dramatic in a series of recent steps by U.S. ban, the company told Reuters on Wednesday. The Biden administration has demanded that TikTok's Chinese owners divest their stakes in the popular video app or face a possible U.S. flag in this illustration taken October 6, 2020. A 3D printed Tik Tok logo is seen in front of U.S. ![]()
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