TikTok Forms U.S. Joint Venture, Appoints Adam Presser as CEO to Secure American Operations

TikTok said Thursday that it has formally established a new U.S. joint venture designed to ensure the video-sharing app can continue operating in the country under a new governance structure. The announcement was welcomed by Donald Trump, who praised the deal as placing the company in the hands of American investors and leadership.

The newly created TikTok USDS Joint Venture will be led by Adam Presser, previously TikTok’s head of operations and trust and safety. Presser, who has been with the company for nearly four years and previously held senior roles at Warner Bros., will serve as chief executive. TikTok CEO Shou Chew will sit on the board of the new entity, which the company described as operating independently.

According to TikTok, the joint venture will function under a framework of “defined safeguards” intended to address U.S. national security concerns. These include protections around user data, algorithm security, content moderation and software assurance for American users. A seven-member board will govern the venture, with a majority of directors being U.S. citizens.

Chinese parent company ByteDance will retain a 19.9% stake in the venture. Control will rest with a group of U.S.-based managing investors, including Silver Lake, Oracle and MGX, alongside other institutional backers. TikTok said its recommendation algorithm will now be hosted in Oracle’s U.S. data centers and trained using U.S. user data.

The restructuring follows a national security law passed during the previous administration that sought to force ByteDance to divest TikTok’s U.S. operations or face a ban. While the law was never enforced after a series of executive orders, it set the stage for negotiations that culminated in the current deal.

Trump credited Chinese President Xi Jinping for cooperating with the process, though Beijing has not publicly confirmed its approval. Reports earlier this week indicated that both governments had signed off on the agreement, clearing the way for the transaction to close.

Under the new setup, TikTok said its U.S. entities will continue to manage global interoperability, allowing American creators and businesses to reach international audiences. The structure is also expected to keep related apps such as CapCut and Lemon8 operating in the U.S.