Former U.S. President Donald Trump has said he is talking with “a lot of people” because they are very interested in buying the U.S. business of TikTok, which will be banned in the U.S. if not sold by September 15th, as its Chinese parent company ByteDance reached the deadline to divest it from its operations or face negative consequences.
On Sunday, in an interview that was broadcast on Fox News, Trump said the group of investors, which he did not name, could wrap the deal, contingent upon the approval of Beijing, and that he would be announcing their names publicly in roughly two weeks. His comments revive the battle over TikTok’s presence in the United States and indicate a renewed round of political and corporate jockeying over the ownership of the app.
TikTok’s Future Is Uncertain. Trump Says This Is Not the End.
TikTok has been under the microscope in the United States for years over data privacy and national security worries. Lawmakers have worried that ByteDance would be compelled to turn over user data to the Chinese government or use the app to possibly sway American public opinion by manipulating the platform’s algorithm.
Congress also passed legislation in 2024 — The Protecting Americans from Foreign Adversary Controlled Applications Act (the “PAFACA”) — that mandated that ByteDance sell its US assets or be banned completely. Four days before Trump won re-election in January 2025, the Supreme Court ruled the law was constitutional.
Trump also has given ByteDance multiple extensions, most recently to September 17, 2025, with the earlier order to have banned TikTok from U.S. app stores unless the company finds a U.S. buyer. TikTok had briefly gone dark before a previous deadline, but it was able to continue operating after the Trump administration provided additional assurances.
Trump Suggests Chinese Consent, Joint Venture as Trump Organization Seeks Favors in China.
In his Fox News interview, Trump said that China’s approval would be required for any acquisition deal to advance. Yet he said he believed that Chinese President Xi Jinping would be forthcoming, saying, “I think President Xi will probably do it.”
Trump also suggested a joint-venture arrangement in which a group led by U.S. investors would buy TikTok, and that group would sell to the U.S. government a financial interest in the platform, but it is unclear how such an arrangement would work in practice, legally or economically.
This isn’t the first time Trump has proposed a zany ownership situation. In his first term, he floated the idea that the U.S. Treasury ought to get a “cut” from any sale of TikTok, a pronouncement that was widely criticized as further politicizing foreign investment in the United States.
Who Are the Potential Buyers?
Although Trump hasn’t revealed any names publicly, multiple reports indicate that Oracle co-founder Larry Ellison, a vocal Trump supporter, is among the group of interested parties. Other companies, including AppLovin and Perplexity AI, have also been mentioned as part of the discussion around acquiring TikTok.
In April, ByteDance was said to be floating a potential arrangement in which the company would keep a minority stake in the American version of TikTok. That plan was shelved, according to the people close to the discussions, after the Trump administration imposed tariffs on a new round of Chinese goods that further frayed diplomatic and business relations.
Analysts feel that any purchase would be hit with major legal hurdles, especially with antitrust issues, taking over content, and dealing with PAFACA (if one is competing in a defense contract).
Political Strategy or Serious Business?
Trump’s announcement comes amid his campaign efforts and growing influence in shaping U.S. tech policy. He credited TikTok for helping him gain traction with younger voters during the 2024 presidential election and has since struck a more moderate tone regarding the platform’s future.
Some critics argue that Trump’s public remarks are part of a strategic political move, aiming to both appeal to young voters and project economic leadership by “saving” a popular platform through American investment. Others see it as an attempt to pressure ByteDance and the Chinese government into a deal before the September deadline.
