Washington, D.C.: US President Donald Trump has revealed that a group of very wealthy people are ready to purchase TikTok, the Chinese-owned video-sharing platform that was banned in the US over national security concerns.
Trump said he would disclose more details about the potential buyers in about two weeks. He also expressed positivity that Chinese President Xi Jinping would approve the deal, which still requires clearance from Beijing.
The announcement comes as the US government pushes ByteDance, TikTok’s parent company, to finalise a sale by September 17, the deadline set by a law passed last year mandating the divestment. Trump, who delayed the law’s enforcement for the third time this month, has used executive actions to repeatedly postpone the deadline, drawing criticism from lawmakers.
A previous sale attempt collapsed in April following tensions between the White House and China over Trump-era tariffs. It remains unclear if the group Trump cited is the same as those involved in earlier negotiations.
TikTok, which has denied allegations of sharing user data with the Chinese government, challenged the law in court, arguing it was unconstitutional. However, the US Supreme Court rejected the appeal earlier this year.
Despite earlier opposition to the app, Trump has since shifted his stance, acknowledging TikTok’s influence during his 2024 presidential campaign and backing its constant availability in the US. TikTok has not yet commented on the latest developments.
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