Trump Claims to Have Wealthy Buyers for TikTok Amid Ongoing Controversy

Donald Trump has hinted that he has secured a group of wealthy investors willing to buy TikTok, which remains embroiled in national security concerns and regulatory disputes, with an impending deadline for a sale approaching.

In a Fox News interview, former President Donald Trump revealed he has identified a buyer for TikTok, a popular video-sharing app that has been banned in the U.S. due to concerns about national security. Trump mentioned a group of "very wealthy people" poised to acquire the platform, teasing, "I'll tell you in about two weeks."

For a sale to proceed, approval from the Chinese government is necessary, but Trump expressed confidence that President Xi Jinping would likely accommodate the transaction. This announcement comes at a crucial time, as Trump has delayed enforcement of a law requiring the sale of TikTok for the third time this month, with a new deadline set for September 17 for parent company ByteDance to finalize a deal.

Previously, a potential sale fell through in April when tensions between the U.S. and China escalated due to trade tariffs imposed by Trump. It is unclear whether the current interested buyers are the same as those from a few months ago. Last year, U.S. Congress passed a law compelling the sale of TikTok, citing apprehensions that user data could be accessed by the Chinese government—a claim TikTok has continually denied.

Throughout his presidency, Trump criticized TikTok, but his perspective has shifted as he sees its potential influence in the upcoming 2024 election. Despite his past criticisms, he's now advocating for the app's continued presence in the U.S. The sale law originally aimed to take effect on January 19 but has faced delays due to Trump's executive actions, which have drawn scrutiny for circumventing Congressional authority. Meanwhile, TikTok has contested the law's constitutionality, but its appeal was denied by the U.S. Supreme Court.