Trump Says TikTok U.S. Buyout Deal in Motion with Group of Wealthy Investors
Former U.S. President Donald Trump has revealed that a group of wealthy investors is prepared to purchase TikTok’s U.S. assets, pending approval from China, in compliance with a 2024 law requiring ByteDance to divest its American operations.
In an interview aired on Fox News’ “Sunday Morning Futures with Maria Bartiromo”, Trump said he will announce the identities of the buyers in approximately two weeks. “We have a buyer for TikTok, by the way,” Trump said. “I think I’ll probably need China’s approval. I think President Xi will probably do it.”
ByteDance Facing Deadline Under 2024 U.S. Law
The 2024 TikTok divestment law mandates that China-based ByteDance must either:
- Sell TikTok’s U.S. assets, or
- Show significant progress toward a deal
…by January 19, 2025, or the app will be banned in the U.S.
Trump has already extended the deadline three times, with the most recent deadline now set for September 17, 2025.
Previous TikTok U.S. Sale Talks Collapsed Over China Tariff Tensions
A deal had reportedly been in motion earlier in 2025 that would have spun off TikTok’s U.S. operations into a new company controlled by American investors. However, the agreement stalled after China declined to approve the sale, following Trump’s announcement of steep new tariffs on Chinese imports.
According to Trump, the current buyout plan may face similar scrutiny from Beijing, but he believes Chinese President Xi Jinping is likely to approve the transaction.
Trump Attributes TikTok to His Popularity Among Young Voters
Trump also credited TikTok with helping his outreach to younger voters, noting the platform’s role in boosting his visibility and support among Gen Z and millennial demographics during the 2024 presidential election.
Despite ongoing national security concerns about TikTok’s ties to China and data privacy, Trump has opted for a divestment strategy over an outright ban, citing the platform’s massive U.S. user base and cultural impact.
What’s Next for TikTok in the U.S.?
With just months left before the legal cutoff, all eyes are on:
- The identity of Trump’s “very wealthy” buyer group
- China’s willingness to approve the deal
- ByteDance’s ability to comply with U.S. regulations
If no deal is finalised by the January 19, 2025, deadline, TikTok could face a full U.S. ban, unless a significant extension or policy shift occurs.
