President Trump has Found 'Very Wealthy' Buyer for TikTok

President Donald Trump in a Fox News interview on Sunday said that a deal to buy the popular short-video app TikTok is underway and involves "very wealthy people", whose identities he plans to reveal in about two weeks.

"We have a buyer for TikTok, by the way," Trump said during an interview on Fox News' 'Sunday Morning Futures with Maria Bartiromo'. "I think I'll need probably China's approval. I think President Xi will probably do it."

Trump's comments come amid ongoing uncertainty over the future of TikTok's US operations. The app, owned by China-based ByteDance, has faced mounting political pressure in Washington over national security concerns related to user data and Chinese government influence.

A 2024 US law required TikTok to either be divested from ByteDance or cease operations in the United States by January 19, 2025, unless there was significant progress toward a sale. Trump has now extended that deadline three times, most recently pushing it to September 17.

Earlier this year, a deal was in motion to spin off TikTok's US operations into a new company owned and operated by US investors. However, the proposal stalled after Beijing signalled opposition, particularly after Trump imposed steep tariffs on Chinese imports.

Trump has previously credited TikTok with helping boost his popularity among younger voters in the 2024 presidential election. According to Reuters, ByteDance and Chinese authorities have not yet commented on the potential sale or Trump's remarks.