Blackstone has stepped away from a high-profile consortium—including Susquehanna, General Atlantic, KKR, Andreessen Horowitz, and Oracle—that had been preparing to purchase around 80% of TikTok’s U.S. business, leaving ByteDance with a minority stake. The firm’s exit stems from mounting concerns over deal delays, regulatory obstacles, and escalating U.S.–China tensions.
This move adds another twist to a complex and fast-moving situation. The block’s deadline to finalize the sale has been repeatedly extended—with the latest push targeting mid-September—as ongoing trade negotiations and political scrutiny create a volatile backdrop for buyers.
With Blackstone out, remaining partners now face increased pressure to restructure the deal or find new investors. At the same time, ByteDance continues to develop a standalone U.S. version of TikTok while the clock ticks down.
