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00:02Oracle disclosed a roughly $2 billion stake in TikTok's U.S. business after the platform's
00:07ownership shifted to a new investor group earlier this year, according to CNBC. In a quarterly
00:13filing for the period ended February 28th, Oracle reported $2.2 billion in non-marketable debt and
00:20equity investments, with a substantial majority tied to TikTok USDS Joint Venture LLC.
00:25Adam Presser became CEO of the new TikTok USDS Joint Venture in January, with Oracle, Silverlake,
00:32Abu Dhabi's MGX, and other investors holding majority control. Oracle owns 15% of the venture
00:38and holds a board seat alongside investors Silverlake and Abu Dhabi's MGX. ByteDance retains
00:45just under 20%. Following the ownership change, Oracle began storing TikTok's U.S. user data
00:51and acting as the platform's security provider to monitor and ensure the safety of its U.S.
00:56operations. For all things money, visit Benzinga.com.
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