TikTok parent ByteDance has special stock owned by China's government. Here's how 'golden shares' give Beijing influence over the social-media giant.
into security concerns tied to TikTok, a lawmaker asked if the Chinese Communist Party owned a"golden share" in parent company ByteDance that gives it control over a board seat.
The stakes are often 1%, but despite their minuscule size, they can still provide a seat on the board and influence over business decisions. in an Alibaba subsidiary to exert more control over content at streaming video unit Youku and web browser UCWeb, the FT said.In addition to TikTok, ByteDance owns a number of companies, including the news aggregator Toutiao and TikTok's sister app Douyin, which is used in China.
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