In a recent interview on Fox News’s Sunday Morning Futures, former President Donald Trump revealed that he has lined up “very wealthy people” interested in purchasing TikTok, currently owned by China-based ByteDance. This announcement came as Trump continues to advocate for a divestiture plan that would keep the popular video-sharing platform available in the United States under American ownership. According to Trump, he will reveal the identities of these investors in about two weeks.
TikTok’s legal status in the United States has been uncertain since Congress passed the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) in 2024. This legislation set a January 19 deadline for ByteDance to divest its U.S. assets or risk an enforcement ban. In response, Trump granted ByteDance multiple extensions, most recently pushing the deadline to September 17. Trump credited TikTok with boosting his appeal among younger voters, and signaled he wants the app to continue operating under U.S. control.
During the interview, Trump emphasized that any sale of TikTok would need approval from Chinese authorities. He expressed confidence that Chinese President Xi Jinping would agree, adding, “I think President Xi will probably do it.” A previous attempt to sell TikTok’s U.S. operations fell apart earlier this year. Reports suggest that the deal collapsed after Trump imposed tariffs on Chinese goods, prompting Beijing to block the plan.
Trump’s announcement follows months of regulatory uncertainty and ownership negotiations. Backers of the acquisition reportedly include Oracle’s Larry Ellison, Allegiant co-founder David Adelman, tech firms like AppLovin, and AI company Perplexity. While these parties have expressed interest, Trump did not confirm whether they are among the group he referred to.
Why TikTok’s Ownership Matters
U.S. lawmakers have long raised concerns that TikTok’s Chinese ownership poses security risks, giving Beijing potential access to sensitive American user data. The fear extends to the possibility of Beijing influencing user content for propaganda or surveillance. Supporters of national security emphasize that even subtle shifts in algorithmic content promotion could manipulate public opinion or amplify divisive issues. While these claims remain under debate, they formed the basis of PAFACA, which seeks to block or transfer foreign reach into the platform.
Opponents have also pointed to TikTok’s enormous reach: over 150 million monthly U.S. users and a cultural influence rivaling that of established social media giants. Some argue that banning the app outright would limit freedom of expression for millions of Americans. On the other hand, advocates for the ban counter that national security concerns outweigh those freedoms. Trump has positioned his proposal as a compromise—ensuring the app remains available but under American ownership.
Trump’s decision to delay enforcement of the divestment deadline appears to align with his broader political strategy ahead of the November election. He emphasized that multiple extensions—three in total—were granted to ByteDance in hopes of facilitating a divestiture. By doing so, Trump portrays himself as keeping TikTok alive under U.S. control, while also appealing to voters concerned about both national security and censorship.
In the interview, Trump referenced a possible joint venture where U.S. investors and the U.S. government would share ownership, with ByteDance retaining a minority stake. This would bypass complete exporting or dismantling of the app. Legal experts, however, warn that such a structure might still fall short of full compliance with PAFACA, depending on voting rights and control over data management.
Potential Buyers and Hurdles
Even as Trump hinted that identities will be revealed soon, questions remain. One of the most mentioned investors is Larry Ellison, co‑founder and Executive Chairman of Oracle. Ellison previously spoke with President Trump about investing in the TikTok U.S. unit, and reportedly floated a plan to create a new U.S.‑based company to manage the app. Other names, such as tech firm AppLovin and AI startup Perplexity AI, have also been floated as potential bidders. Yet none have publicly confirmed an ongoing deal.
Any successful deal would require approval from both U.S. and Chinese regulators. China’s government would need to permit ByteDance to sell its valuable asset, while U.S. authorities must accept the confidentiality and oversight of user data management. Trade tensions, particularly around Trump’s tariff policies, could complicate regulatory conversations with Beijing. Trump expressed optimism that President Xi would agree, but negotiations remain sensitive and uncertain.
With a September 17 deadline fast approaching, ByteDance now has only a few months to line up a deal or plan for U.S. operations’ shutdown. Trump emphasized that an app-store and internet-provider ban will follow if the sale isn’t finalized. However, recent delays suggest a willingness to continue providing breathing room to reach an agreement.
ByteDance representatives have so far declined to confirm any sale, emphasizing they maintain discussions but have not received specific proposals. They warned that regulatory obstacles remain high, especially with China’s reluctance to sign off if faced with unfavorable economic or political concessions.
Domestic Legal Considerations
Even if ByteDance agrees to a sale involving wealthy Americans, legal questions linger in the U.S. Courts. Largely debated are whether divestment amounts to sufficient de‑risking under PAFACA. Some legal scholars argue the law requires divestiture of controlling interests and data access, not just financial investment. Others believe shared ownership or government involvement could comply, so long as Americans hold control.
A sale would also face scrutiny from the Federal Trade Commission and the Committee on Foreign Investment in the United States (CFIUS), which review acquisitions involving potential national security implications. CFIUS would likely mandate strict data usage and security protocols to prevent foreign influence. These complexities could stretch negotiations well past the current deadline.
Wider Geopolitical Implications
TikTok’s fate now plays a starring role in broader U.S.–China relations. As two superpowers negotiate trade, tech dominance, and military influence, TikTok has become a symbolic battleground. The Chinese government is likely to treat any forced sale as a blow to its technology sector—possibly prompting retaliatory moves.
For Trump, keeping control of the narrative around TikTok’s sale advances both domestic political goals and foreign policy influence. By promising to keep the app alive—while using it as an election outreach tool—he appeals to young Americans who might otherwise disengage from the campaign. At the same time, the ongoing tug of war over the app becomes a high-stakes bargaining chip with China.
What Happens Next
As Trump pledged to release investor names in mid-July, the market and media will be watching closely. Public disclosure could add urgency to negotiations and pressure ByteDance to act. A transparent purchase group would provide credibility to Trump’s proposal—while potentially simplifying legal filings.
After disclosure, conference calls between U.S. investor teams and Chinese officials may gain traction. Regulatory departments will evaluate whether the bidder pool meets national security terms and whether the Chinese party agrees to divest. This could lead to CFIUS hearings and congressional scrutiny.
If a deal materializes, we would likely see a joint press release from Trump, TikTok U.S. leadership, and buyer representatives—emphasizing user safety, data security, and U.S. control. But if those conversations collapse, the post-September world could feature TikTok’s abrupt disappearance from U.S. phones, sparking controversies over censorship, civil liberties, and digital foreign policy.
What the TikTok Debate Reveals
The TikTok saga illustrates how digital platforms now have global clout. No longer are apps merely media tools—they are battlegrounds for data sovereignty, culture wars, and geopolitical influence. The uncertainty over TikTok shows that technology policy now intersects deeply with national identity, elections, and international power dynamics.
This moment also raises questions about policymaking in digital media. PAFACA sets new standards for foreign-owned apps that even the largest tech firms must abide by. Going forward, other global social media entities from China or elsewhere may face similar scrutiny. The process of forced sales or bans may become the norm in U.S. technology governance.
