President Donald Trump revealed in a Sunday interview on Fox News that he has a group of “very wealthy people” lined up to purchase TikTok. He stated he could disclose their identities within two weeks, adding a new layer of intrigue to the platform’s uncertain future in the United States.
TikTok’s fate has been in limbo since a 2024 law required its Chinese parent company, ByteDance, to either sell the app or face a ban. The law stems from national security concerns that Beijing could access American user data and manipulate content. Trump recently extended the divestment deadline for the third time, setting a new date of September 17.
In his remarks, Trump expressed confidence that Chinese President Xi Jinping would likely approve the sale, a crucial step for any deal to proceed. This is a significant statement, as Beijing’s approval has always been a major obstacle. A previous deal reportedly fell apart after Trump announced his “reciprocal” tariffs on China.
Trump, who acknowledges the app helped boost his support among young voters, has consistently said he wants TikTok to continue under new ownership. Potential buyers, such as Oracle’s Larry Ellison, have previously shown interest. However, even if ByteDance and a new buyer reach an agreement, the deal must still navigate complex legal challenges in the U.S. to ensure it fully complies with the divestiture law.
