- President Trump has found a group of "very wealthy people" who are set to buy TikTok in the US.
- The buyer's identity remains undisclosed, with Trump mentioning that the information will be shared in the following two weeks.
- According to Trump, the deal might be finalized after final approval from Chinese President Xi Jinping.
After receiving its third extension, TikTok avoided getting banned in the US just a couple of weeks ago. Now, TikTok may have finally found a suitable buyer who can oversee its operations in the country and keep the platform afloat going forward, according to US President President Trump.
In a Fox News interview on Sunday, US President Donald Trump mentioned that he had found a group of “very wealthy people” who are all set to buy TikTok from its parent company, ByteDance. Trump stated in the interview, “We have a buyer for TikTok, by the way.” He further added, “I think I’ll need probably China’s approval. I think President Xi will probably do it.”
It is worth noting that he has not yet disclosed the identities of the those set to buy TikTok. When asked about it, he stated that he would reveal the buyers in the next two weeks. We assume the announcement will likely come after further discussions with China.
TikTok’s parent company, ByteDance, has been under pressure since last year to sell its US operations to an American buyer. However, they have not been able to do so, despite many big players including Microsoft and Perplexity, chiming in to buy the popular short-form video platform.
The app was supposed to be banned at the start of the year, but the President-Elect delayed the TikTok ban at the last moment. It received another extension in April and a third one in June. Hopefully, this was the last one, and Trump’s “wealthy” friends may have finally made the cut to buy TikTok. This could save the app from its looming ban in the US.
