Trump: Potential US TikTok buyer will be revealed in next two weeks
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US president Donald Trump claims his administration has found a buyer for TikTok’s operations in the country and plans to disclose their identities in the next two weeks.
As reported by Reuters, during a Fox News interview Trump described the buyers as a group of “very wealthy people”. However, he said any deal still needs to be ratified by China, which remains in tense trade negotiations with the US.
Trump claimed that he expects Chinese President Xi Jinping will approve the much delayed acquisition.
“We have a buyer for TikTok, by the way,” he said. “I think I’ll need probably China’s approval. I think President Xi will probably do it.”
Acquisition battle
A number of potential buyers have emerged for TikTok in the US, including YouTube influencer MrBeast, Perplexity AI and Oracle Corp, according to reports. Fast-rising ad tech company AppLovin is also in the fray, with plans to merge with TikTok’s entire international operations outside of China.
“The synergies could generate tens of billions of revenue in the coming years,” said AppLovin CEO Adam Foroughi in a recent blog post.
“Let’s be clear: this is a long shot,” Adam continued. “But building one of the world’s best advertising AI models was also a long shot, yet we did it. We’re not here for small bets.
“Our goal is to build a massive business that creates value for the world and our shareholders. That said, our core business remains our focus.
He added: “That’s our vision. A partnership to tackle tough challenges, unlock unparalleled economic growth, and reshape the future for businesses and communities worldwide.”
Another deadline
Earlier this month, President Trump extended the deadline to September 17th for ByteDance to sell TikTok’s US assets. It’s the latest delay in a deal following a law passed by Congress requiring the Chinese company to divest its US TikTok operations or be banned in the country.
A deal to spin off TikTok’s US operations into a US-owned firm was said to be in progress but stalled after China signaled disapproval following Trump’s announcement of steep tariffs on Chinese goods.
Last month, a US appeals court ruled that Trump can continue collecting import taxes for now, despite a trade court recently declaring most of his global tariffs illegal.
The Trump administration criticised the earlier ruling as judicial overreach, arguing it could undermine months of trade negotiations. Small businesses and several states continue to challenge the tariffs, which are key to Trump’s trade policy.
