Is President Trump about to solve the TikTok dilemma that has caused anxiety for millions of American users? The President revealed negotiations are underway with four different bidders for the Chinese-owned social media platform as the administration works to resolve national security concerns while keeping the popular app available.
At a glance:
• President Trump is negotiating with four potential buyers for TikTok’s US operations
• TikTok temporarily shut down in January before Trump stepped in to suspend the ban
• Potential buyers reportedly include groups led by Oracle founder Larry Ellison, Frank McCourt, and popular content creator MrBeast
• Trump suggested the US should receive a substantial stake in TikTok as part of any deal
• ByteDance, TikTok’s China-based parent company, has shown reluctance to sell its US operations
Trump Takes Charge of TikTok Sale
President Donald Trump is personally overseeing negotiations with four different groups interested in acquiring TikTok’s US operations. The popular video-sharing platform faces a congressionally mandated deadline to divest from its Chinese parent company ByteDance or be removed from American app stores.
“We’re dealing with four different groups, and a lot of people want it,” Trump told reporters, adding that “all four are good.” The President indicated that a deal could be reached within a month, though he’s open to extending deadlines if necessary.
On Saturday President-elect Donald Trump told NBC in a phone interview that after he takes office he will “most likely” give TikTok a 90-day reprieve from a potential ban. The extension is allowed under the bipartisan law passed last year. But on Friday the Supreme Court voted to… pic.twitter.com/M397DyELLB
— PBS News (@NewsHour) January 18, 2025
National Security Concerns Drive Push for American Ownership
The TikTok saga stems from bipartisan concerns that the Chinese government could exploit the app’s massive American user base for espionage or influence operations. These security worries led Congress to pass legislation requiring ByteDance to sell TikTok’s US operations or face removal from American app stores.
When the January 19th deadline arrived, TikTok briefly disappeared from app stores until Trump intervened. The president signed an executive order extending ByteDance’s deadline by 75 days, allowing the platform to continue operating while negotiations take place.
Congress's goal was never to ban TikTok. It was to allow Americans to use the app safe from Chinese Communist Party control. Today, the Supreme Court unanimously upheld that effort while soundly rejecting TikTok's Orwellian position that protecting the First Amendment somehow…
— Mike Gallagher (@RepGallagher) January 17, 2025
Potential Buyers Line Up Despite ByteDance Resistance
While Trump didn’t name the interested parties, multiple reports identify several potential buyers for TikTok’s US operations. Among them are Oracle Corp. Founder Larry Ellison, whom Trump has specifically mentioned, and Project Liberty headed by businessman Frank McCourt.
Other interested groups reportedly include one featuring popular content creator MrBeast, another led by Reddit Co-Founder Alexis Ohanian, and a merger offer from Perplexity AI. The US market represents TikTok’s most important user base, with its American operations valued at up to $50 billion last year.
Trump has suggested that any deal should include the US government receiving a significant stake in the company. “I did say whoever buys it, 50% of the price has to go to the United States Treasury,” Trump stated, indicating his desire for America to benefit financially from the transaction.
The biggest obstacle remains ByteDance itself, which has shown little interest in selling despite the legal pressure. ByteDance CEO Shou Chew has met with Trump to discuss the situation, but the company valued at over $400 billion continues to resist divestiture.
