US President Donald Trumprevealed in an interview with Fox News that he is in contact with a group of “very wealthy people” interested in acquiring TikTok. He said their names could be made public within the next two weeks.
Trump said any acquisition deal would likely require approval from Chinese authorities, but he expressed confidence that Chinese President Xi Jinpingwould "most likely" give the green light.
The statements were made on the "Sunday Morning Futures with Maria Bartiromo" show, during a discussion that also included US-China trade relations and the possibility of a new tariff suspension.
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TikTok’s future in the US remains uncertain after a bill was passed in 2024 that would require ByteDance, the app’s parent company, to divest from the platform’s US operations. The legislation was based on concerns that the Chinese government could manipulate the app’s content or gain access to users’ personal data in the United States.
Earlier in June, Donald Trump extended the deadline for the mandatory divestment of ByteDance again — the third in a row — setting a new deadline of September 17. The original implementation date of the law, known as PAFACA (Protecting Americans From Foreign Adversary Controlled Applications), was set for January 19, the day before Trump took office as president.
TikTok's operation in the US was temporarily suspended shortly before the original divestment deadline, but was restored after assurances from Donald Trump for a new extension to the law's implementation.
The US president, who has acknowledged that the app's popularity helped boost his influence with younger voters during the last election campaign, has openly stated that he would like to see TikTok continue to operate in the US – but under new, non-Chinese ownership.
Potential investors who have shown interest in acquiring the platform include figures from the president's inner circle, such as Oracle 's Larry Ellison , as well as companies such as AppLovin and startup Perplexity AI .
See also: Donald Trump gives TikTok a 90-day extension
Despite the acquisition scenarios, it remains unclear whether ByteDance – TikTok’s Chinese parent – is willing to proceed with a sale. Any decision to exit the US market is expected to require approval from the Chinese government, which is closely monitoring developments.
A proposed restructuring of the company, which would have allowed ByteDance to retain a minority stakewhile spinning off its U.S. operations into a new entity, was under negotiation in April. However, the plan was put on hold after Trump announced new tariffs on China.
In the past, Trump had also proposed creating a joint venture with the participation of American shareholders and selling 50% of the shares of the new entity to the US government – a proposal that raises serious legal and constitutional questions.
Analysts and lawyers express reservations about the viability of any deal, emphasizing that any takeover scenario would have to be fully compatible with the legal framework of the PAFACA law, which may create serious obstacles to its completion.
TikTok, as the only Chinese app with such a wide appeal in the West, has become a symbol of concern for American authorities. Official allegations focus on the possibility of Chinese interference in content and possible access to data of American citizens. In practice, however, influence and dominance in the digital realm.
Donald Trump's stance complicates the situation. On the one hand, he has advocated divesting ByteDance and selling the platform to American interests. On the other hand, he recognizes TikTok's role in boosting his image, which explains why he is not pushing for a complete ban.
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His statements about "rich friends" interested in buying the platform highlight the business nature of the case.
On the other hand, the Chinese government is unlikely to approve the sale of TikTok without serious compensation. Giving up the algorithm or losing control over such a powerful digital tool runs counter to Beijing's strategy of technological self-sufficiency and influence.
As negotiations continue, millions of users in the US — content creators, small businesses, artists and influencers — remain hostage to a confrontation defined by geopolitical connections. TikTok is for them a tool of expression and income, but politically it is viewed as a threat or a spoil.
Source: www.cnbc.com
