Trump Confirms ‘Very Wealthy’ Group Set to Acquire TikTok Amid Looming U.S. Ban

United States President, Donald Trump has revealed that a group of wealthy investors is preparing to acquire TikTok, the popular video-sharing platform currently facing a potential ban in the United States due to its ties to China.

In an interview aired Sunday on Fox’s Sunday Morning Futures with Maria Bartiromo, Trump confirmed that a deal was in the works.

“We have a buyer for TikTok, by the way. Very wealthy people. It’s a group of wealthy people,” he stated, adding that the identities of the buyers would be disclosed within two weeks.

TikTok is owned by Chinese tech giant ByteDance, and a U.S. law passed on national security grounds mandates the sale or shutdown of the platform if it remains under Chinese control.

The law was scheduled to take effect a day before Trump’s potential return to the White House on January 20.

However, Trump, who leveraged TikTok’s vast influence during his 2024 campaign and has previously expressed support for the platform, extended the sale deadline by an additional 90 days in mid-June, allowing more time for negotiations.

Trump also acknowledged that Chinese approval might be required for the transaction to proceed.

“I think President Xi (Jinping) will probably do it,” he said.

Technology analysts view the TikTok saga as a flashpoint in the ongoing U.S.-China rivalry over control of global digital infrastructure and data. The sale, if completed, could mark a pivotal moment in the geopolitical tech landscape, influencing future regulatory actions and corporate acquisitions involving foreign tech firms.