Former President Donald Trump has confirmed that a group of wealthy investors is preparing to purchase TikTok, the popular video-sharing app at the center of a national security debate over its Chinese ownership.
In a Sunday morning interview, Trump revealed that a consortium of affluent individuals is behind the potential acquisition, though he declined to name anyone involved. He said the identities of the prospective buyers would be made public within the next two weeks.
TikTok, owned by Beijing-based tech giant ByteDance, has faced mounting scrutiny from U.S. lawmakers over concerns that the app could pose a national security threat by exposing American user data to the Chinese government.
A federal law passed earlier this year mandates that ByteDance divest TikTok’s U.S. operations or face an outright ban. That law was set to take effect on January 19—just one day before Trump would have been inaugurated again had he won the 2024 election.
Although Trump was initially a vocal proponent of banning TikTok or forcing its sale, he later softened his stance. He acknowledged the platform’s growing popularity and its role in helping him reach younger voters during the 2024 campaign.
In mid-June, Trump granted ByteDance another 90-day extension to finalize a sale—marking the third such delay since the legislation passed. He cited ongoing negotiations and the complexity of the deal, including the possibility that it could require approval from Chinese regulators.
Trump also noted that previous attempts to secure a sale were complicated by broader U.S.-China trade tensions
