President Donald Trump is set to hold an important meeting on Wednesday with his top aides to discuss potential investors for TikTok, a deal that could prevent the popular social media platform from being banned in the U.S.
The high-stakes meeting comes amid ongoing uncertainty surrounding TikTok’s future, after a law went into effect on January 19 that requires its parent company, ByteDance, to divest ownership due to national security concerns. In a move to buy time, Trump signed an executive order that delayed enforcement of the law until April 5, pushing the deadline for TikTok’s sale or potential ban.
According to a source familiar with the situation, possible investors in the deal include tech giant Oracle and private equity firm Blackstone. The meeting is expected to include key figures such as Vice President JD Vance, Commerce Secretary Howard Lutnick, White House National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
Speaking to reporters on Air Force One, Trump expressed his desire to “see TikTok remain alive,” signaling his intent to find a solution. In the past, he’s suggested that reducing tariffs against China could be part of the negotiations if the country agrees to the sale.
Trump’s relationship with TikTok has been turbulent. During his first term, he attempted to ban the app over security concerns, but legal challenges halted those plans. The Trump administration later explored a sale, though no agreement was reached. More recently, Trump has credited TikTok with helping him secure a significant portion of the youth vote in the 2020 election, where he won the young vote by 36 points—a rare feat for Republicans.
“I think a lot of it could have been TikTok,” Trump remarked, noting the platform’s role in engaging younger voters.
If no deal is struck by April 5, the law mandating TikTok’s divestiture or banning it in the U.S. will come back into effect. However, the deadline may not be set in stone. Trump has suggested that the executive order could be extended if necessary, offering a potential reprieve for the app.
In January, the U.S. Supreme Court upheld a federal law requiring ByteDance to either sell TikTok or face a nationwide ban. Shortly after, TikTok was temporarily taken offline for U.S. users, but was brought back after Trump vowed to stall the ban with an executive order.
While the move has faced some scrutiny, it has not yet been legally challenged.
Though it’s unclear whether ByteDance is willing to sell TikTok, several potential buyers have stepped forward in recent months.
One group showing interest is a consortium led by billionaire Frank McCourt, which has offered ByteDance $20 billion for TikTok’s U.S. operations. This group includes Reddit co-founder Alexis Ohanian as a strategic adviser and plans to revamp the app with blockchain technology, offering users greater control over their online data.
Another interested party is Jesse Tinsley, the founder of Employer.com, who has assembled a group of investors—including Roblox CEO David Baszucki—to offer more than $30 billion for TikTok.
Additionally, former Treasury Secretary Steve Mnuchin and Rumble, a conservative-friendly video platform, have expressed interest in the deal. Rumble has even signaled its willingness to join a consortium to purchase TikTok and partner with the company on the tech side.
Other potential buyers include Perplexity AI, an artificial intelligence startup, which proposed a merger with TikTok’s U.S. operations earlier this year.
As the April 5 deadline approaches, it remains to be seen whether ByteDance will agree to a sale, or whether TikTok will face a nationwide ban in the U.S. Trump’s meeting on Wednesday will be a critical moment in these ongoing negotiations, and the future of TikTok in America could hinge on the outcome.
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