“We have a buyer for TikTok, by the way,” Trump said during a Fox News interview over the weekend. “I think I’ll need probably China approval, and I think President Xi will probably do it. It’s a group of very wealthy people.”

That cryptic tease comes as TikTok faces a looming U.S. ban if its China-based parent company, ByteDance, doesn’t divest from the platform by September 17. The company has already dodged the axe several times, thanks to multiple 75- and 90-day deadline extensions—the latest just issued earlier this month.

Why This Matters

TikTok isn’t just a fun app for dance trends and dog videos. Roughly 170 million Americans use it to get their news, build communities, and for some, make a living. A U.S. ban would ripple across the creator economy and tech sector—and be a major political move with global implications.

But any sale is tricky. ByteDance still needs the Chinese government’s approval to finalize any deal, and Beijing hasn’t signaled whether it’s on board with TikTok changing hands.

Who’s in the Running to Buy TikTok?

Several big names and high-profile groups have thrown their hats in the ring. Some were close to a deal earlier this year—until fresh U.S. tariffs on Chinese goods scuttled progress.

Here’s a breakdown of the major contenders:

1. A Private Consortium with ByteDance Keeping a Minority Stake

One of the most advanced proposals came from a group of U.S.-based venture capital firms and tech investors. Under that plan, ByteDance would retain just 20% ownership, in line with U.S. law, which also prohibits the company from influencing TikTok’s data or algorithm.

No companies were publicly named at the time, but a source told CNN that all sides—ByteDance, U.S. investors, and the Trump administration—were aligned on the deal before negotiations stalled.

2. Oracle + American Investors

Oracle, TikTok’s current U.S. cloud technology partner, has reportedly been among the top bidders, possibly teaming up with private equity firm General Atlantic and investment group Susquehanna International.

Oracle has long had a cozy relationship with Trump-era officials and previously tried to secure a controlling stake in TikTok during Trump’s first term.

None of the parties commented when reached on Monday.

3. The People’s Bid – Frank McCourt, Kevin O’Leary, Alexis Ohanian

This group brands itself as “The People’s Bid” and brings together billionaire Frank McCourt (former owner of the LA Dodgers), “Shark Tank” star Kevin O’Leary, and Reddit co-founder Alexis Ohanian.

Their pitch? A Made-in-America TikTok that gives users more control over their data and limits algorithmic manipulation.

“Every day without a qualified divestiture puts Americans at greater risk of manipulation and surveillance,” a Project Liberty spokesperson said.

4. MrBeast + Employer.com’s Jesse Tinsley

Yes, MrBeast, the YouTube superstar with 250+ million subscribers, is part of another group reportedly interested in buying TikTok. He’s partnered with Employer.com founder Jesse Tinsley.

Their group hasn’t shared many public details, and a representative declined to comment on Monday.

5. AI Startup Perplexity

In a bold March announcement, artificial intelligence firm Perplexity said it wanted to buy TikTok and rebuild its algorithm from scratch—without creating a monopoly.

Their reasoning? As a smaller player in tech, they claim they could offer TikTok the innovation it needs without big tech baggage.

Perplexity hasn’t commented further since that statement.

What’s Next?

While Trump promises a reveal “within two weeks,” the road to a finalized deal is far from clear. China’s position remains a wild card, and the U.S. government will still need to vet any buyer to ensure compliance with the sale-or-ban law passed last year under President Biden.

Meanwhile, millions of creators and users continue using TikTok daily—unsure whether their favorite platform will be American-owned or banned altogether come September.

Stay tuned—this saga is far from over.

Source: CNN – Trump says he has a TikTok buyer. Here are the players who have been vying to buy the app

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TikTok’s battle to stay online in the U.S. didn’t start with President Trump—but he’s now the one holding the clock.

The story began under the Biden administration, which passed legislation in 2023 giving ByteDance, TikTok’s China-based parent company, roughly nine months to either sell the app to a U.S. buyer or face a nationwide ban. The law was rooted in national security concerns, with lawmakers worried that the Chinese government could access U.S. user data or manipulate the platform’s powerful algorithm to influence public opinion.

These fears weren’t pulled out of thin air. TikTok had already faced multiple investigations, including a high-profile one by the Committee on Foreign Investment in the United States (CFIUS), which flagged the app as a potential risk due to its ties to China and vast reach among American users—especially younger generations.

By the time the law kicked in on January 19, 2024, TikTok had over 170 million active users in the U.S. alone, making any potential ban a politically sensitive move. The app briefly went offline that day, but returned just hours later after then newly sworn-in President Trump issued a temporary 75-day stay on enforcement.

It was a surprising reversal from Trump, who first tried to ban TikTok back in 2020 during his previous term. That effort, tied to a proposed deal with Oracle and Walmart, ultimately fell apart and was blocked in court. At the time, Trump cited the same national security concerns Biden would later use to justify the new law. But since returning to office, Trump has said he softened his stance after using the app himself and seeing its cultural impact.

TikTok’s Algorithm: The Real Prize

One of the biggest sticking points in any potential deal? TikTok’s algorithm.

Described as the app’s “secret sauce,” the recommendation system behind TikTok is what makes it so addictive—and so valuable. It’s also the part Chinese regulators have shown zero willingness to give up.

In 2020, China added algorithms and AI systems to its list of restricted exports, meaning ByteDance would need the Chinese government’s explicit approval to sell TikTok with its core technology included. Without the algorithm, any U.S. version of TikTok would essentially be a shell of its former self—far less engaging, and far less competitive.

Tech, Trade, and Tension

At this point, TikTok is more than just a social media app. It’s a geopolitical flashpoint in the larger rivalry between the U.S. and China.

The latest 90-day extension comes at a moment when Washington and Beijing are both looking for ways to ease economic tensions, including recent talks aimed at relaxing export controls and avoiding escalation in the tech war. TikTok has become a symbol of that broader struggle over digital sovereignty, tech dominance, and user data control in the 21st century.

Any deal to transfer TikTok’s U.S. operations will have to navigate not just American politics, but also Chinese legal hurdles, tech export regulations, and mounting pressure from Wall Street, Silicon Valley, and TikTok’s massive creator economy.

Source: CNN – Trump will grant TikTok another 90-day extension in enforcement of sale-or-ban law

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Former President Donald Trump has petitioned the U.S. Supreme Court to postpone the looming January 19 deadline for a potential TikTok ban. This request aims to provide his incoming administration more time to negotiate a resolution. In an amicus brief filed on Friday, Trump highlighted his negotiation skills, claiming he is uniquely positioned to address the dual challenges of safeguarding national security and preserving the popular social media app.

Trump’s Position

“I take no position on the merits of the dispute,” Trump stated in the filing. Instead, he urged the court to delay the ban to allow his administration time to broker a deal, potentially avoiding the Supreme Court’s need to resolve the contentious First Amendment issues surrounding TikTok.

The Legal and Political Context

The Supreme Court has fast-tracked the case, with oral arguments set for January 10—just nine days before the ban’s scheduled enforcement. The contested law, signed earlier this year by President Joe Biden, mandates that TikTok sever ties with its parent company, ByteDance, or face removal from U.S. app stores and hosting services.

TikTok, which has over 170 million U.S. users, is at the center of a broader debate about national security, free speech, and the reach of U.S. tech regulations. Both TikTok and the U.S. Department of Justice submitted opening arguments on Friday:

• TikTok’s Defense: The company argued that the First Amendment protects its operations and cited ongoing efforts to mitigate concerns over its ties to China, particularly regarding the potential misuse of sensitive user data.
• Justice Department’s Argument: The government countered that the law is constitutionally sound, contending it only marginally affects free speech while addressing legitimate national security threats posed by TikTok’s foreign ownership.

The Broader Debate

The TikTok ban has sparked divisions across the political and legal landscape. Advocacy groups like the ACLU view the law as a significant threat to free speech and have urged the Supreme Court to overturn it. Conversely, a coalition of former national security officials, including ex-Attorneys General Michael Mukasey and Jeff Sessions, supports the law, citing concerns over the Chinese Communist Party’s potential influence through TikTok.

Lawmakers are similarly split:

• Opponents of the Ban: Senators Rand Paul (R-Ky.), Ed Markey (D-Mass.), and Representative Ro Khanna (D-Calif.) have argued the law infringes on First Amendment rights.
• Supporters of the Ban: Representatives John Moolenaar (R-Mich.) and Raja Krishnamoorthi (D-Ill.) back the law, emphasizing its importance to national security.

Trump’s Strategy

Despite his party’s general support for the ban, Trump has consistently opposed it, even praising TikTok for its role in engaging younger voters during his presidential campaign. His recent intervention escalates his efforts to block the ban, putting him at odds with the Biden administration and many Republican lawmakers.

Implications and Next Steps

The Supreme Court’s decision will have far-reaching consequences, affecting U.S.-China relations, tech industry regulations, and free expression on social media platforms. Both parties in the case must submit final reply briefs by January 3.

As the January 19 deadline looms, TikTok critics remain optimistic about a ruling in favor of the government. Representative Moolenaar stated, “After TikTok exhausts its legal options, I believe the law will move forward quickly.” However, TikTok has argued that a forced sale is impractical and is preparing for the ban to take effect unless the court intervenes.

The clock is ticking as the legal, political, and technological stakes continue to rise.

Source

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