Trump: Wealthy Investors Eye TikTok U.S. Buyout

WASHINGTON, D.C. – Former President Donald Trump has revealed that a group of “very wealthy people” are interested in acquiring TikTok, the popular social media platform, for its U.S. operations.

In a recent interview on Fox News, Trump alluded to ongoing negotiations, stating, “We have a buyer for TikTok, by the way,” but refrained from disclosing the identities of the potential investors. He added, “I’ll tell you in about two weeks,” suggesting a deal could be imminent.

The move comes after President Joe Biden signed legislation in 2024 mandating TikTok’s sale to a non-Chinese entity due to concerns over user data security and potential access by the Chinese government. This followed a Supreme Court ruling earlier this year that ordered TikTok’s removal from U.S. app stores if it didn’t sever ties with its Chinese parent company, ByteDance.

The situation saw a brief service disruption for TikTok’s 170 million U.S. users and roughly 1 million content creators. The app went dark for a day before Trump, upon returning to office, paused the ban, extending the deadline multiple times, now set for September 17.

Previous attempts to broker a deal, including one that would have given an American company a 50% stake in the app, stalled after Trump imposed tariffs on Chinese goods. During his initial presidency, Trump had already identified TikTok as a security threat, issuing an executive order in 2020 to address these concerns.

Despite his earlier stance, Trump later acknowledged TikTok’s role in mobilizing young voters during the 2024 election, appearing to soften his position. ByteDance’s reluctance to relinquish control over the app’s algorithm has also been a key sticking point in negotiations.

TikTok ranks as the fifth-largest social network globally, boasting 1.6 billion users, trailing behind industry giants like Facebook, YouTube, Instagram, and WhatsApp.

Earlier this year, potential suitors for TikTok’s U.S. operations reportedly included companies like Applovin, Amazon, Oracle, Blackstone, and Andreessen Horowitz. However, none of these companies have confirmed their involvement.

David Arslanian, managing director of Progress Partners, expressed skepticism regarding the seriousness of these bids, noting, “It is hard to imagine any of these companies, like Amazon and Oracle, successfully operating just a piece of TikTok.”

Keywords: TikTok, Donald Trump, ByteDance, social media, U.S. ban, acquisition, Joe Biden, data security, Chinese government, investment.