Trump Announces “Very Wealthy” Buyers for TikTok’s US Operations
US President Donald Trump revealed on Sunday that a group of “very wealthy people” has agreed to purchase the US operations of the popular social media platform, TikTok.1 While he didn’t name the buyers, Trump indicated that more details would be disclosed within approximately two weeks.2
This announcement comes as the Trump administration continues its push to separate TikTok’s ownership from its Chinese parent company, ByteDance, citing national security concerns. A law passed last year mandated that ByteDance divest TikTok’s US assets or face a nationwide ban.3 The current deadline for this sale has been extended multiple times and is now set for September 17, 2025.
Potential Buyers and Hurdles
Earlier reports in April 2025 suggested the White House was in talks with a consortium of US investors, including prominent firms like Andreessen Horowitz, Blackstone, and Silver Lake, to acquire a significant stake in TikTok’s US business. Existing investors such as General Atlantic, Susquehanna, KKR, and Coatue were also expected to retain a combined share.
However, any sale hinges on the approval of both ByteDance and the Chinese government. Beijing has previously indicated it might block a sale, particularly concerning the transfer of TikTok’s core algorithm to a US entity. Negotiations have faced delays this year, partly due to new tariffs imposed by Trump on Chinese imports.4
Extensions and Political Context
Despite the legal requirement for a sale or shutdown, President Trump has repeatedly extended the deadline for TikTok’s divestment.5 The most recent extension, signed earlier this month, pushed the deadline by 90 days from June 19 to September 17.6 White House Press Secretary Karoline Leavitt stated that “President Trump does not want TikTok to go dark” and that the administration aims to finalize a deal to secure American users’ data.
Trump has publicly credited TikTok with helping him connect with younger voters, particularly during the 2024 election.7 However, some Democratic senators have questioned the president’s legal authority to unilaterally extend the sale deadline and have expressed concerns that any proposed deal may not fully satisfy the requirements of the congressionally mandated ban.