Khaby Lame Sells Stake to Rich Sparkle for $975 Million

Khaby Lame, TikTok's most-followed creator with 160 million followers on the platform, has sold a controlling stake in his company, Step Distinctive Limited, to Rich Sparkle Holdings in an all-stock deal valued at 975 million. The agreement, announced by the Hong Kong-based firm listed on Nasdaq under the ticker ANPA.US, grants Rich Sparkle exclusive global rights for 36 months to manage and monetize Lame's digital presence, including livestreams, short-form videos, brand partnerships, and supply chain operations.

Under the terms, Lame will retain a controlling shareholder position in the entity, which oversees his content and likeness rights. Rich Sparkle, in partnership with China-based livestream operator Anhui Xiaoheiyang Network Technology Co., Ltd., plans to build a comprehensive commercialization system around Lame's brand. This includes expanding into product categories such as beauty, fragrance, and apparel, with coordinated advertising and co-branded intellectual property. The strategy emphasizes a closed-loop commerce model, where content discovery, purchases, and shipping occur within an integrated ecosystem, supported by global fulfillment infrastructure.