WASHINGTON, USA — President Donald Trump announced on Sunday, June 29, 2025, that a group of wealthy investors is prepared to acquire TikTok, the popular video-sharing app facing a potential ban in the United States over national security concerns related to its Chinese ownership.
“We have a buyer for TikTok, by the way,” Trump said during an appearance on Fox News’ Sunday Morning Futures with Maria Bartiromo.
“Very wealthy people. It’s a group of wealthy people,” he added, without disclosing further details.
President Trump said he would identify the prospective buyers “in about two weeks.”
TikTok, owned by Beijing-based tech company ByteDance, has come under intense scrutiny in Washington due to concerns over data privacy, surveillance, and the platform’s links to the Chinese government.
A federal law requiring ByteDance to sell the U.S. operations of TikTok or face a nationwide ban was due to take effect before Trump’s inauguration on Monday, January 20, 2025.
However, Trump, whose 2024 re-election campaign relied heavily on social media outreach, has repeatedly delayed implementation of the law.
In mid-June, Trump granted a third 90-day extension to allow TikTok more time to finalise a sale to non-Chinese interests.
While Trump initially backed efforts to ban TikTok or force a divestment, he has in recent months softened his stance, citing the app’s influence among young voters.
“I have a little warm spot in my heart for TikTok,” he said in a May interview with NBC News.
“If it needs an extension, I would be willing to give it an extension.”
The president reiterated on Sunday, June 29, 2025, that the deal could require “China approval,” adding, “I think President Xi [Jinping] will probably do it.”
ByteDance, for its part, has confirmed ongoing discussions with the U.S. government and noted that any agreement would be “subject to approval under Chinese law.”
Trump has previously claimed that a buyer group was prepared to pay ByteDance “a lot of money” for TikTok’s U.S. assets.
He also suggested that an earlier agreement could have been reached were it not for unresolved issues related to tariffs and broader U.S.-China trade disputes.
ByteDance has not named any potential acquirers, and no public filings related to a sale have yet been disclosed.
In the past, Oracle and Walmart were among the firms floated as possible partners during similar negotiations under Trump’s first administration.
The protracted TikTok saga has become a flashpoint in the ongoing U.S.-China technology rivalry.
National security officials and lawmakers have raised alarms about Chinese access to Americans’ data and the potential for influence operations via the platform’s algorithm.
Despite this, the app remains wildly popular, with nearly two billion global users and a significant footprint in the United States, particularly among younger demographics.
