This study examines data privacy governance models for cross-border digital platforms operating within increasingly fragmented regulatory environments. As digital platforms expand across jurisdictions, they face divergent legal regimes, cultural expectations, and enforcement capacities that complicate the protection of personal data. The paper develops a comparative and conceptual analysis of prevailing governance models, including centralized compliance frameworks, federated or hybrid governance arrangements, and decentralized, risk-based approaches. Drawing on regulatory instruments such as the General Data Protection Regulation, sectoral privacy laws, and emerging regional data protection frameworks, the study evaluates how platforms structure accountability, consent management, data localization, and cross-border transfer mechanisms. Particular attention is given to the role of institutional design, corporate governance, and technical controls in mediating conflicts between national sovereignty and global data flows. The paper argues that purely centralized models, while efficient, often struggle to accommodate local regulatory nuances, whereas fully decentralized approaches risk inconsistency and regulatory arbitrage. Hybrid governance models are identified as the most adaptive, combining global privacy principles with jurisdiction-specific implementation mechanisms. The analysis further highlights the importance of transparency, auditability, and stakeholder engagement in sustaining trust across borders. It also explores how emerging technologies, including privacy-enhancing technologies and automated compliance tools, are reshaping governance practices by embedding regulatory logic directly into platform architectures. Methodologically, the study adopts a qualitative synthesis of policy documents, regulatory guidance, and academic literature, complemented by illustrative platform governance practices. The findings contribute to ongoing debates on digital sovereignty, regulatory convergence, and platform responsibility by proposing a structured framework for evaluating cross-border data privacy governance effectiveness. Ultimately, the paper concludes that resilient governance models must balance legal compliance, operational scalability, and ethical accountability to remain viable in a rapidly evolving digital ecosystem. The proposed insights are intended to inform policymakers, platform operators, and researchers seeking to design or assess robust data privacy governance strategies for transnational digital platforms. In doing so, the study underscores the need for continuous regulatory learning, cross-border cooperation, and adaptive governance capacities that can respond to technological change, geopolitical pressures, and evolving societal expectations surrounding data rights, accountability, and digital trust in global platform ecosystems worldwide.