it’s fully owned and operated by people in China

US private equity firms own more than anyone. WSJ: What Is TikTok Worth? Some Say $20 Billion, Others Say $100 Billion

[ByteDance founder] Zhang owns 20% of ByteDance, according to the company, though super shares have given him larger voting rights. Roughly 60% of ByteDance is owned by global institutional investors including Carlyle Group, General Atlantic and Susquehanna International Group. The remaining 20% is owned by company employees.

The CEO is Singaporean Shou Zi Chew and the VP is American Michael Beckerman.