U.S. President Donald Trump has revealed that a buyer has been secured for the American segment of TikTok, the popular short-form video platform owned by Chinese tech firm ByteDance. During a national broadcast interview, Trump confirmed that a group of affluent U.S. investors is ready to acquire the app’s American operations. However, he noted that the agreement may require approval from Chinese authorities to proceed.
Trump Unveils Next Phase in TikTok Sale
Speaking during an appearance on Sunday Morning Futures, a Fox News program hosted by Maria Bartiromo, Trump stated that the acquisition deal for TikTok’s U.S. assets has made substantial headway. He described the potential new owners as a “very wealthy” coalition of American investors and disclosed that he would publicly name the individuals or entities involved within the next two weeks.
Trump added that while the U.S. has finalized its internal preparations for the transaction, the deal’s success likely depends on the Chinese government’s willingness to approve the terms. “We have a buyer for TikTok, by the way,” Trump stated. “I think I’ll need probably China’s approval. I think President Xi will probably do it.”
Strategic Delay to Finalize Negotiations
Earlier this month, Trump signed a third executive order postponing enforcement of a federal law that mandates the divestment of TikTok’s U.S. operations. Originally, ByteDance faced a hard deadline of January 19, 2025, to either sell off TikTok’s American business or shut down its U.S. operations entirely. This requirement came under the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), passed in April 2024.
Trump extended the deadline for the third time, granting ByteDance until September 17, 2025, to finalize the sale. He explained that the additional time would allow the buyer group to complete legal and financial arrangements, as well as obtain regulatory clearances. This move provides temporary relief to over 170 million U.S.-based users and countless businesses that rely on the platform for content distribution and marketing.
Previous Attempts at a Sale
The TikTok saga has been unfolding for more than a year. In early 2025, U.S. officials and ByteDance explored a potential deal that would spin off TikTok’s American arm into a standalone company based in the United States. The proposed company would have been majority-owned by U.S. investors, with operational autonomy.
However, that plan was shelved after China’s Ministry of Commerce signaled that it would block any forced sale of TikTok, particularly if it involved transferring the algorithm that powers the platform’s content recommendations. This resistance came shortly after Trump imposed new tariffs on Chinese goods, further straining U.S.–China trade relations.
Identity of Buyers Remains Under Wraps
While Trump has not yet disclosed the identities of the investors behind the deal, speculation has circulated about several high-profile individuals and corporations. Previous reports mentioned interest from former U.S. Treasury Secretary Steven Mnuchin, along with tech billionaires and venture capital firms.
Names such as Kevin O’Leary, Elon Musk, and Larry Ellison have been mentioned in media discussions, though no confirmation has been given. Some analysts suggest that the buyer group could also include tech companies already in the digital media space, while others believe private equity firms are leading the charge.
Trump assured the public that more details would emerge soon, saying, “We’ll be announcing who they are in about two weeks.”
China’s Role in the Decision
Although the U.S. government has made its position clear, Beijing’s stance remains a critical factor. Since ByteDance is a Chinese company, any sale of TikTok’s core assets—including intellectual property—must receive Chinese regulatory approval. In past instances, the Chinese government has labeled the app’s recommendation engine as “sensitive technology,” meaning it cannot be exported without a license.
This implies that even if the U.S. finalizes a deal with domestic buyers, ByteDance may be legally prevented from completing the transfer without Beijing’s consent. President Trump, however, expressed optimism that Chinese President Xi Jinping would not obstruct the transaction.
Legal and Political Challenges Loom
Despite the progress on a potential sale, legal hurdles remain. Critics have argued that Trump’s executive orders, particularly those delaying the divestment deadline, may violate the law’s original intent. The PAFACA statute provided a strict 270-day window for ByteDance to comply, after which enforcement would begin. Trump’s repeated extensions could potentially face legal challenges in court.
Furthermore, digital rights organizations continue to raise concerns about First Amendment implications. Although the U.S. Supreme Court upheld the law earlier this year, ruling that it does not violate free speech protections, new lawsuits could emerge as the situation evolves.
TikTok’s Political Impact
Trump has acknowledged TikTok’s role in his political outreach. He has credited the platform with helping him connect with younger voters during the 2024 presidential campaign. He remarked that his campaign saw a surge in youth engagement thanks to viral content shared widely on TikTok.
This personal connection with the platform may partially explain Trump’s reluctance to enact an immediate ban, despite national security concerns expressed by lawmakers and intelligence officials.
What’s at Stake?
The outcome of the ongoing TikTok negotiations will have far-reaching consequences. If a successful deal is reached by September, it could serve as a blueprint for how the U.S. handles tech platforms with foreign ownership. On the other hand, failure to divest by the new deadline could lead to TikTok being deplatformed from app stores and web services, effectively cutting off millions of users and creators.
Moreover, the deal may influence broader U.S.–China relations, especially if trade concessions or diplomatic coordination are involved. A cooperative resolution could ease tensions, while a contentious outcome might escalate them.
Looking Ahead: September Deadline Approaches
With the clock ticking toward the new deadline, both the U.S. and China must navigate a complex regulatory and geopolitical landscape. The buyer group will need to finalize financial terms, perform due diligence, and secure government approvals—all under the scrutiny of lawmakers, regulators, and the public.
Trump’s statement that a buyer is secured signals a turning point in the long-running TikTok controversy. Still, much remains uncertain. Whether the platform will continue operating in the U.S. beyond September now hinges on both the pace of negotiations and the stance taken by Beijing.
