Former President Donald Trump has revealed he’s assembled a team of deep-pocketed investors poised to purchase TikTok, the social media giant banned in the US over national security concerns.
Speaking on Fox News, Trump teased, “I’ve got a group of very wealthy people ready to buy it. I’ll let you know in a couple of weeks.” He hinted that Chinese President Xi Jinping might agree to the deal, despite China’s previous opposition to any forced sale.
TikTok’s parent company, ByteDance, now has until 17 September to finalise a sale—following Trump’s latest delay of the controversial law mandating the platform’s divestment. This marks the third time enforcement has been pushed back since the law was passed.
The BBC reached out to TikTok for comment, though the company has yet to respond.
An earlier sale attempt crumbled in April when tensions flared between Washington and Beijing, partly fuelled by Trump’s ongoing tariff strategy. It’s uncertain whether the potential buyer Trump mentioned is the same party involved in that failed deal.
The legislation, originally passed in April 2024, requires ByteDance to sell off TikTok or face a ban, citing fears the app could share American user data with the Chinese state—a claim ByteDance has consistently rejected.
While Trump once criticised TikTok during his first term, he later credited the platform with helping boost his popularity during the 2024 election campaign. Since returning to office, he’s shifted stance and now appears to support the app’s future in the US.
Despite Congress passing the divest-or-ban law with bipartisan support, Trump has used executive authority to delay enforcement—moves some lawmakers say undermine the legislative branch.
TikTok mounted a legal challenge against the law, questioning its constitutionality, but the US Supreme Court ruled against the company.