President Donald Trump announced a group of “very wealthy people” is poised to acquire the short-form video application TikTok, stating the transaction will likely require approval from China. Speaking in a Fox News interview on Sunday morning, Trump confirmed, “We have a buyer for TikTok, by the way.” He elaborated on the necessity of Chinese consent, asserting, “I think I’ll need probably China’s approval. I think President Xi [Jinping] will probably do it.”
Trump refrained from disclosing specific details regarding the identities of these buyers during the interview. He indicated that further information would be made public within a two-week timeframe. Trump has previously postponed legislative action aimed at compelling TikTok’s owner, ByteDance, to divest the application or face prohibition within the United States.
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In January, Trump articulated an initial concept regarding TikTok’s ownership structure. He stated his “initial thought” was to establish “a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership.” This earlier proposition outlined a shared equity arrangement, potentially involving existing stakeholders and new investors, with a significant stake allocated to the United States.
Trump has also previously identified specific individuals as potential purchasers for the application. He publicly expressed openness to allies Larry Ellison or Elon Musk acquiring TikTok. While Ellison was cited as a potential buyer, Trump noted that Musk’s candidacy appeared to have become less probable over time.
