ByteDance Says , It Won't Sell TikTok.<br />The United States passed a law on April 24 that requires ByteDance to sell TikTok <br />in 2025 or be banned across the nation.<br />The United States passed a law on April 24 that requires ByteDance to sell TikTok <br />in 2025 or be banned across the nation.<br />In response to a news article claiming ByteDance was considering selling TikTok <br />in America without its algorithm.<br />the Chinese company said, <br />"Foreign media reports of ByteDance <br />selling TikTok are not true," BBC reports. .<br />ByteDance doesn't have <br />any plans to sell TikTok, ByteDance, via statement.<br />TikTok has continuously denied claims that its parent company is controlled by the Chinese government.<br />We are confident and we will keep <br />fighting for your rights in the courts, Shou Zi Chew, TikTok CEO, via statement.<br />The facts, and the Constitution, <br />are on our side... rest assured, <br />we aren't going anywhere, Shou Zi Chew, TikTok CEO, via statement.<br />The Chinese government, which has also denied <br />any ties to ByteDance, said that banning TikTok <br />would "inevitably come back to bite the U.S.".<br />BBC reports that 60% of TikTok shares are currently "owned by institutional investors, including major U.S. investment firms.".<br />20% is owned by ByteDance founder Zhang Yiming, and 20% is owned by global employees.<br />Out of ByteDance's five board members, <br />three are American, BBC reports.
