According to former President Donald Trump, he has identified a “group of very wealthy people” who could purchase TikTok’s U.S. business. He stated on Fox News that he anticipates information to surface in two weeks, pending Chinese permission, including that of President Xi Jinping.
ByteDance must sell TikTok’s U.S. division by September 17 or risk a statewide ban under a federally mandated “divest-or-ban” law. Trump has repeatedly postponed the deadline, claiming that talks are still ongoing.
Heavyweights like Oracle, Blackstone, and Andreessen Horowitz—who allegedly led a prior unsuccessful bid—are among the possible bidders. Other purported suitors include social media influencer MrBeast, AI firm Perplexity AI, and Frank McCourt’s “People’s Bid,” each of which has a unique approach to algorithm control and data stewardship.
An approved sale would satisfy mandates under the Protecting Americans from Foreign Adversary Controlled Applications Act, requiring ByteDance to relinquish control. Still, China’s approval is critical, especially regarding export controls on TikTok’s algorithm.
