President Donald Trump said over the weekend that a buyer has emerged for TikTok, potentially ending months of uncertainty over the app’s future in the United States.
“We have a buyer for TikTok,” Trump said in an interview on Fox News. “It’s a group of very wealthy people. I think I’ll need probably China approval, and I think President Xi will probably do it.”
TikTok’s Chinese parent company, ByteDance, has until September 17 to divest the app’s U.S. operations or face a ban. Trump has already extended that deadline multiple times after taking office, hoping to secure an American-led takeover instead.
The video-sharing platform, which serves around 170 million users in the U.S., was nearly sold in April, but the deal collapsed after Trump imposed new tariffs on China. The White House then issued a 75-day delay, followed by another 90-day extension earlier this month.
White House Press Secretary Karoline Leavitt said on Monday that talks with Chinese officials are ongoing. She emphasized the administration’s priority is to protect user data while keeping the platform accessible.
Though Trump did not name the buyer, a previous deal involved several American investors and technology firms forming a new company to manage TikTok’s U.S. division. ByteDance would retain a minority stake capped at 20%, as required by law.
Oracle, TikTok’s current U.S. cloud provider, was previously seen as a frontrunner, alongside investment firms like General Atlantic and Susquehanna International Group. Other bidders include a group led by entrepreneur Frank McCourt and investor Kevin O’Leary, which has branded its offer as “The People’s Bid for TikTok.”
Social media influencer MrBeast and tech founder Jesse Tinsley have also expressed interest. Meanwhile, AI startup Perplexity earlier this year said it aimed to buy TikTok and rebuild its algorithm independently.
ByteDance and TikTok have not commented on the ongoing negotiations. Approval from Beijing remains a key hurdle.
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