Trump says “very wealthy” group to buy Tiktok

President Donald Trump said a group of Tiktok buyers was found on Sunday. It added that it faces a looming ban in the US due to Chinese ties and can name buyers in two weeks.

“By the way, we have a Tiktok buyer,” Trump said in an interview with Maria Bartilomo about Fox’s Sunday morning futures.

“Very wealthy people. It’s a group of wealthy people,” the president said.

The president also said “China approval” would be required for the sale.

Tiktok is owned by Baitedan, an internet company based in China.

A federal law requiring a ban on the sale of Tiktok or the basis for national security was due to take effect on January 20th the day before Trump took office. However, the 2024 election campaign relied heavily on social media, and Republicans who said they liked Tiktok put a ban on the ban.

In mid-June, Trump extended the deadline for the popular video sharing app for another 90 days, finding non-Chinese buyers or being banned in the US.

Tech experts quickly described Tiktok Kerfuffle as a symbol of heated US and China technical competition.

Trump has long supported the ban or sale, but he vowed to defend the platform after turning his position around and believing that he would help him win the support of young voters in the November election.

“There’s a slightly warmer place in Tiktok’s heart,” Trump told NBC News in early May. “If you need an extension, we’re happy to provide it.”

Now, Trump is making his third extension after two extensions pressed a deadline on June 19th.

He said in May that a group of buyers were ready to pay “a hefty sum” for Tiktok’s US business.

The previous month, he said that China would have agreed to a deal regarding the sale of Tiktok if it hadn’t been a dispute over Trump’s tariffs on Beijing.

Bytedance said it needs to confirm consultations with the US government and resolve important issues, and that all transactions will be “subject to approval under Chinese law.”

©2025 AFP