Donald Trump revealed a ‘very wealthy’ group of buyers is set to purchase TikTok in the upcoming weeks – following years of battles with the Chinese-owned app.
The president made the shock announcement in an interview on Fox’s Sunday Morning Futures with Maria Bartiromo.
‘We have a buyer for TikTok, by the way,’ Trump declared without giving away many details or revealing where the proposal was coming from.
‘I think I’ll need, probably China approval, but President Xi will probably do it.’
Bartiromo asked who the buyer is, to which Trump responded they will be revealed in just two weeks.
‘They’re very, very wealthy people. It’s a group of wealthy people,’ he bluntly said.
This tease at new TikTok owners comes Trump’s stance on the popular app has drastically shifted over the years.
During his first term, Trump was determined to take down the video-sharing application – calling for a total ban in the US.
Donald Trump (pictured) made the shock announcement in an interview on Fox’s Sunday Morning Futures with Maria Bartiromo
Trump revealed a ‘very wealthy’ group of buyers is set to purchase TikTok in the upcoming weeks (stock image)
TikTok is owned by China-based company ByteDance, which has raised concerns about privacy and security.
A federal law to ban TikTok for being a threat to national security briefly went into effect the day before Trump was sworn in for his second term in January.
Under the Biden administration, the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACAA) called for ByteDance to sell TikTok by the deadline or the app would be barred from the US.
The company did not sell the social media platform, meaning the banning it was the only remaining option.
But in an unexpected turn of events, one of TikTok’s fiercest adversaries became its unlikely savior – issuing an executive order to postpone the ban by 75 days on January 20 as one of his first presidential acts.
TikTok CEO Shou Zi Chew had even attended Trump’s inauguration.
‘Why would I want to get rid of TikTok?’ Trump said in a Truth Social post on January 16.
His change of heart was reportedly due to the massive amount of support he garnered for his White House run through the campaign.
TikTok CEO Shou Zi Chew attended Trump’s inauguration (pictured) after the president announced plans to postpone the ban on the app
‘I have a little warm spot in my heart for TikTok,’ Trump told NBC in May.
TikToks by ratings-obsessed Trump and his team had amassed more than 4 billion views – more than popstar Taylor Swift or political rival Kamala Harris.
He believes his TikTok presence helped him garner support specifically from younger voters.
In April, Trump extended the postponement another 75 days to work out a deal with the Chinese-run company that would ultimately lead to the platform being taken over by an American-approved buyer.
‘My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,’ he wrote on Truth Social at the time.
‘The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days.’
At the time, White House officials believed they were nearing a deal to spin off TikTok into a new company with US ownership that fell apart after China backed out following Trump’s tariff announcement.
Trump (pictured) saved TikTok for a third time on June 19, issuing another 90 days to broker a deal to bring the social media platform under American ownership
Trump saved TikTok for a third time on June 19, issuing another 90 days to broker a deal to bring the social media platform under American ownership.
‘As he has said many times, President Trump does not want TikTok to go dark, White House Press Secretary Karoline Leavitt said in a statement.
‘This extension will last 90 days, which the administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure.’
