President Donald Trump claims he has found a group of wealthy buyers for TikTok, the popular video-sharing platform owned by China-based ByteDance. In a Sunday Fox News interview, Trump said the buyers are “very, very wealthy people” but declined to name them, saying he would share details “in about two weeks.”
What’s behind the sale?
The proposed sale stems from a 2024 U.S. law that required ByteDance to sell TikTok’s U.S. operations or face a nationwide ban. ByteDance failed to meet the original Jan. 19, 2025, deadline.
Since then, Trump has signed a series of executive orders delaying enforcement, most recently extending the divestment deadline to Sept. 17.
Does the sale need approval from China?
Trump acknowledged that any deal would likely require approval from the Chinese government, which has signaled opposition. “I think I’ll need probably China’s approval,” Trump said. “I think President Xi will probably do it.”
According to The New York Times, the White House appeared close to a deal in April that would have transferred half of TikTok’s U.S. ownership to American investors. Still, Beijing reportedly intervened after Trump announced new tariffs on Chinese goods.
What’s the status of the law banning TikTok?
The divest-or-ban law remains in effect and was upheld by the U.S. Supreme Court in January.
Trump’s initial executive order delayed enforcement for 75 days, allowing TikTok to return online after a brief shutdown. He issued another 75-day extension in April, followed by the current 90-day pause currently in effect.
The president’s latest order also instructs the Department of Justice not to penalize ByteDance while negotiations continue.
What’s next?
Whether a final deal will meet U.S. legal requirements remains unclear, especially if ByteDance refuses to part with TikTok’s core algorithm — a sticking point for Beijing.
Still, Trump has signaled he wants the app to remain in the U.S., crediting it with helping him win over young voters in 2024.
