US President Donald Trump disclosed on Sunday (June 29) that he has secured a buyer for TikTok’s US business, but declined to identify the group of purchasers, saying he will confirm the details within two weeks.
Speaking on Fox News’ Sunday Morning with Maria Bartiromo, Trump described the potential acquirer as “a group of very wealthy people,” without revealing their identities or the financial terms of the deal.
Trump told Bartiromo in the interview: “We have a buyer for Tiktok, by the way. I think I’ll need probably China approval and I think President Xi [Jinping] will probably do it.”
The interview was recorded on Friday (June 27) and was aired on Sunday.
The president’s statement came over a week after he issued another 90-day reprieve for TikTok, signing an executive order to postpone the enforcement of a law that would force ByteDance to sell its TikTok US operations or face a ban in the market.
“We have a buyer for Tiktok, by the way. I think I’ll need probably China approval and I think President Xi [Jinping] will probably do it.”
Donald Trump, US President
The latest extension pushes back ByteDance’s deadline to September 17, 2025.
In response to the latest EO, TikTok said: “We are grateful for President Trump’s leadership and support in ensuring that TikTok continues to be available for more than 170 million American users and 7.5 million US businesses that rely on the platform as we continue to work with Vice President [JD] Vance’s Office,” as reported by the Associated Press.
Trump’s statement about the need to secure approval from Chinese President Xi Jinping echoed his remarks made on June 17. Speaking to reporters at the time, Trump said: “Probably have to get China approval but I think we’ll get it. I think President Xi will ultimately approve it,” Reuters reported.
TikTok went offline for over 170 million US users on January 18 ahead of the first deadline after the Supreme Court upheld the divest-or-ban law. Google and Apple also removed TikTok from their app stores to comply with the law.
However, less than 24 hours after TikTok switched off its service, the platform restored its service on January 19 after Trump provided the “necessary clarity and assurances” to its service providers. Trump took oath as president the following day.
The divest-or-ban law, signed by former US President Joe Biden, has drawn interest from several potential buyers. Amazon, Oracle, and a group including billionaire Frank McCourt and Employer.com founder Jesse Tinsley are reportedly in the running. Even Tim Stokely, the founder of OnlyFans, has thrown his hat in the ring with his new startup Zoop.
Trump had previously floated the idea of Elon Musk acquiring the platform. However, Musk shot down that speculation in February, saying, “I have not put in a bid for TikTok. I don’t have any plans for what I would do if I had TikTok.”
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