President Donald Trump revealed in an interview on Fox’s Sunday Morning Futures with Maria Bartiromo that a group of “very wealthy people” has been identified as potential buyers for TikTok’s US operations, which face a potential ban due to national security concerns tied to its Chinese owner, ByteDance.
Trump stated he would disclose the buyers’ identities in “about two weeks” and expressed optimism that Chinese President Xi Jinping would approve the sale, saying, “I think President Xi will probably do it.”
The announcement follows a third extension of a federal deadline, now set for September 17, 2025, for ByteDance to divest TikTok’s US assets or face a ban under the 2024 Protecting Americans from Foreign Adversary Controlled Applications Act.
The law, signed by President Joe Biden and upheld by the Supreme Court in January 2025, cites risks of Chinese government access to US user data and potential influence operations. Trump, who initially supported a ban in 2020, reversed his stance, crediting TikTok’s 170 million US users for aiding his 2024 election victory, stating, “I have a little warm spot in my heart for TikTok.”
The deal, reportedly near completion in April 2025, would spin off TikTok’s US operations into a new entity majority-owned by US investors, with ByteDance retaining less than a 20% stake to comply with the law. Potential investors include Susquehanna International Group, General Atlantic, Amazon, AppLovin, and Oracle, though no final agreement has been confirmed.
However, China’s approval remains a significant hurdle, as Beijing halted a near-finalized deal in April after Trump imposed 34% tariffs on Chinese goods, prompting retaliatory tariffs. Trump suggested he might reduce tariffs to secure China’s consent, noting, “The tariffs give us great power to negotiate.”
ByteDance has emphasized that any agreement requires Chinese government approval, with a spokesperson stating, “There are key matters to be resolved.
Any agreement will be subject to approval under Chinese law.” Critics, including analysts like Anupam Chander, argue the deal is complicated by US-China trade tensions, with Beijing potentially preferring to let TikTok “go dark” in the US rather than cede control unless broader trade concessions are made.
What You Should Know
- Trump announced a group of “very wealthy” buyers for TikTok’s US operations on June 29, 2025, with identities to be revealed in two weeks.
- The sale, requiring Chinese approval, faces a September 17, 2025, deadline to avoid a US ban under a 2024 law.
- Potential buyers include Susquehanna International Group, General Atlantic, Amazon, AppLovin, and Oracle, with ByteDance retaining a minority stake.
- China stalled a near-final deal in April 2025 due to Trump’s 34% tariffs, linking approval to trade negotiations.
- Trump’s shift from supporting a TikTok ban to extending deadlines reflects its role in his 2024 election success among young voters.
