After months of legal battles, deadline extensions, and behind-the-scenes deals, former President Donald Trump says there’s finally a buyer lined up for TikTok’s U.S. operations—and he plans to reveal who it is within two weeks.
“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.
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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
