60% of ByteDance is owned by global investors, most of which are based in the US. 20% is owned by the original co-founders, none of whom have any ties to the CCP, and the remaining 20% is owned by employees, almost all of which are in California. The overwhelming majority of the company is already owned by Americans. This entire thing is all about trying to silence a source of information that challenges and refutes government interests, particularly where Palestine is concerned.