• Former President Donald Trump claims a group is ready to acquire TikTok’s US operations, with details expected within two weeks.
  • The potential sale, mandated by US law over national security concerns, remains contingent on approval from Chinese authorities.
  • A recent 90-day extension pushes the final divestiture deadline to September 17, 2025, buying time for complex negotiations.

Former US President Donald Trump announced that negotiations are advancing with several groups interested in acquiring TikTok’s US operations from its Chinese parent company, ByteDance Ltd. According to his statements, details on the acquisition are expected to be finalized within the next two weeks, though any final deal would still be subject to approval from Beijing under strict Chinese export control laws.

The announcement intensifies the long-running geopolitical standoff over the popular short-form video app. The US government, citing national security risks related to user data and algorithmic control, has mandated that ByteDance divest the app or face a potential ban. In a recent move that provides more breathing room, Trump signed an order extending the US divestiture deadline by 90 days to September 17, 2025.

While Trump did not name the specific parties involved, people familiar with the matter have previously indicated that at least four main groups have expressed serious interest. These are said to include a consortium led by investor Kevin O’Leary valuing the asset at approximately $20 billion, as well as other parties involving prominent figures like Elon Musk and “MrBeast” (Jimmy Donaldson). Oracle co-founder Larry Ellison and AI startup Perplexity AI have also been floated as potential participants in various bidding configurations.

“We have a group of companies that want to buy TikTok,” Trump said, suggesting a resolution could be imminent. He has also previously proposed the unconventional idea of a US sovereign wealth fund taking ownership to ensure American oversight of user data.

The path to any sale remains fraught with obstacles. Chinese regulations classify the app’s powerful content-recommendation algorithms as restricted technology, making their transfer subject to government review. This creates a significant hurdle, as the value of TikTok is deeply intertwined with its algorithm. A spokesperson for ByteDance declined to comment on the ongoing speculation, and attempts to reach representatives for the alleged bidding groups were not immediately successful.

Without a viable deal that satisfies regulators in both Washington and Beijing, the company would be forced into a scenario where its operations are effectively banned for its hundreds of millions of US users. This outcome would send shockwaves through the digital media and advertising landscapes, impacting countless content creators and businesses that have built a presence on the platform. For now, the market is watching closely, awaiting concrete details from what has so far been a process characterized more by rumor than formal agreement.