The TikTok USDS (U.S. Data Security) logo appears on a smartphone screen in this illustration photo in Reno, United States, on Dec. 19, 2025.
President Donald Trump and TikTok said Thursday that the company had formed a joint venture to keep the video-sharing app operating in the U.S. under new American leadership.
The company said Adam Presser, who has been serving as TikTok's head of operations and trust and safety, will be the CEO of TikTok USDS Joint Venture. Presser has worked at TikTok for almost four years and was previously a senior executive at Warner Bros.
TikTok CEO Shou Chew will be a director of the newly formed venture, which will run as an "independent entity," according to Thursday's announcement.
TikTok USDS Joint Venture "will operate under defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation, and software assurances for U.S. users," the company said.
Trump hailed the deal in a Truth Social post on Thursday, stating that the company would now be owned by a "group of Great American Patriots and Investors, the Biggest in the World."
He also thanked Chinese President Xi Jinping for working with his administration, and "ultimately, approving the Deal."
"He could have gone the other way, but didn't, and is appreciated for his decision," Trump wrote. China has not issued an official statement confirming the agreement.
According to TikTok, the new venture will be governed by a seven-member board of directors, the majority of whom are American. In addition to Chew, the board is comprised of TPG Global's Timothy Dattels, Susquehanna International Group's Mark Dooley, Silver Lake co-CEO Egon Durban, DXC Technology CEO Raul Fernandez, Oracle 's Kenneth Glueck, and MGX's David Scott.
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