According to TikTok, 60% of ByteDance shares are owned by global investors, 20% by employees, and 20% by the company’s founders. However, as is common in tech companies, the founders’ shares have significant voting rights. TikTok has promised to spend $1.5 billion on a programme to protect user data and content in the United States from Chinese government access or influence, but this may not be enough to satisfy the Cfius.
A US ban on TikTok could benefit rivals such as Meta Platforms (parent company of Facebook and Instagram), YouTube (a subsidiary of Google), and Snap. However, a TikTok ban may result in Chinese authorities sanctioning American companies in response.
