TikTok-Oracle deal: No, majority ownership doesn't give 'total control'

President Donald Trump’s spat with China over “total control” of TikTok raises a corporate governance question: Does majority ownership actually give you control over a business empire? The Chinese, and the broader conglomerate world, may have a very different view from the administration. 

The first details that surfaced from TikTok’s planned deal with Oracle Corp. and Walmart Inc. would put most of the company in American hands. U.S. investors already own 40% of TikTok parent ByteDance Ltd. The current proposal would give 32% of TikTok to American investors (40% of ByteDance’s 80% stake), plus Oracle and Walmart’s 20%. This gets us