• President Trump confirms a potential buyer for TikTok, describing them as a "group of very wealthy people."
  • The U.S. government extends the divestment deadline by 90 days, pushing it to September 17, 2025, marking the third extension.
  • Deal remains contingent on approvals from both U.S. and Chinese regulators, with Trump optimistic about Xi Jinping’s cooperation.

TikTok Sale in Limbo as Deadline Extended Again

President Donald Trump has revealed that a buyer for TikTok has emerged, though the identity of the "group of very wealthy people" remains undisclosed. The deal, however, is far from finalized, as the U.S. government has granted ByteDance, TikTok’s Chinese parent company, another 90-day extension to complete the divestiture. The new deadline is now September 17, 2025—the third such reprieve since the original mandate under the Protecting Americans From Foreign Adversary Controlled Applications Act.

Trump, who himself boasts over 15 million followers on the platform, expressed confidence that Chinese President Xi Jinping would ultimately greenlight the transaction. "We have a buyer, and I believe China will approve it," he said, though neither U.S. nor Chinese officials have publicly confirmed any agreement. The extended timeline underscores the delicate geopolitical balancing act required to navigate data security concerns, U.S.-China tech tensions, and the platform’s entrenched user base.

Regulatory Hurdles and Market Uncertainty

While TikTok continues to operate normally in the U.S., the prolonged uncertainty has weighed on ByteDance’s broader financial strategy, including potential IPO plans. Analysts note that forced divestitures of this scale are rare, drawing parallels to blocked acquisitions like Grindr in 2020. The deal’s structure—whether it involves a full spin-off or a partnership with U.S. investors—remains unclear, but any resolution will require sign-off from both nations’ regulators.

In the meantime, businesses and creators reliant on TikTok’s advertising reach are bracing for disruption. "Without a deal, the platform could vanish overnight," said one digital marketing executive, speaking on condition of anonymity. The outcome could also set a precedent for how other nations handle foreign-owned apps, with India’s TikTok ban serving as a cautionary tale. For now, all eyes remain on Washington and Beijing—and the clock ticking toward September.