President Trump claims that he will soon reveal the “group of wealthy people” that is prepared to buyTikTok. During his first term, Donald Trump tried to force the Chinese-owned app to sell its US assets and hand over control in the region. Those efforts, however, only led to a law banningTikTokon federal government devices and multiple postponed deadlines to permanently ban the app in the country for all users.
Rumors of potential TikTok bidders began circulating in 2020. Twitter was initially seen as a candidate, though it was later acquired by Elon Musk and rebranded as X. Microsoft also showed interest at the time, though it never officially moved to purchase ByteDance’s app. Interestingly, evenYouTuber MrBeast made an attempt to buy TikTokat one point. However, none of these potential bidders have come close to finalizing an actual deal. Now, President Trump is suggesting that serious buyers may soon emerge and make an offer.
In an interview with Fox News (viaReuters), President Trump said, “We have a buyer for TikTok.” When asked if thepotential TikTok bidder is a tech company, he gave an ambiguous response: “They’re a group of very wealthy people.” He then claimed that these investors will be revealed in about two weeks, which would be around July 13, based on the interview date. Acknowledging that China must approve TikTok’s deal, Trump also expressed hope that President Xi Jinping will allow it to proceed. For the record, China previously opposed the US takeover of TikTok after President Trump imposed heavy tariffs on the country.
TikTok’s Future in the US Is Still in the Air
Donald Trump has already tried to postponeTikTok’s ban in the USmultiple times. The current deadline seems to be mid-September, by which the Chinese-owned app must either transfer its US assets and data to American owners or face a permanent ban. ByteDance has tried to avoid this by increasing transparency around data protection and asset control. The company even launchedProject Texasin 2023, a billion-dollar initiative to help TikTok comply with US laws and demonstrate its commitment to national security. However, these efforts have largely failed, and the future of TikTok in the region remains uncertain.
Trump appears hopeful that a deal between American investors and Chinese tech giant ByteDance will soon resolve the TikTok controversy. However, many American TikTok users have already lost faith and are moving to similar apps.One potential TikTok replacement is Rednote, which is also based in China. Those still hopeful about the app’s future will need to wait for the potential new buyers to be revealed. Maybe this new group of wealthy investors will finally save TikTok from a ban.
