After narrowly avoiding a potential expulsion from the United States for the third consecutive time, TikTok now appears to have secured a formidable lifeline —a prospective consortium poised to take control of its American endeavors and shield the app from regulatory extinction, according to a statement from U.S. President Donald Trump.
During a Sunday dialogue on Fox News, Trump divulged that a cadre of “exceedingly affluent individuals” are nearing the acquisition of TikTok from its progenitor firm, ByteDance. “We have a buyer for TikTok, by the way,” he asserted, embedding the remark with an air of finality. He appended, “I believe I’ll need China’s nod. I suspect President Xi might greenlight it.” The individuals behind this acquisition are still unknown, with Trump pledging to disclose their identities in two weeks, likely after discussions with the Chinese leadership.
ByteDance, the architect of TikTok, has been mired in geopolitical scrutiny and compelled to divest its American foothold to a domestic suitor, a mandate it has struggled to fulfill despite overtures from technological titans such as Microsoft and the AI firm Perplexity.
The platform teetered on the precipice of obliteration at the year’s dawn, only to be salvaged by an 11th-hour deferment orchestrated by the incoming administration. Subsequent extensions were dispensed in April and again in June, the latter presumed to be the final stay of execution. Trump’s vague mention of his “wealthy” allies could signify the conclusion of this prolonged ordeal, positioning them as potential saviors of TikTok and possibly ensuring the app’s continued presence in the American digital landscape.
