Trump Announces Wealthy Group Seeks TikTok Deal
(MENAFN) U.S. President Donald Trump announced that a consortium of affluent individuals is preparing to acquire TikTok, though the deal will require authorization from the Chinese government.
"We have a buyer for TikTok, by the way," Trump said in an interview that aired Sunday. "I think I will need probably China's approval. I think (Chinese) President Xi (Jinping) will probably do it."
The president described the interested buyers as "very, very wealthy people" but declined to confirm whether a prominent tech firm is part of the group. He stated that more information will be disclosed "in about two weeks."
In 2024, U.S. lawmakers from both parties passed legislation compelling ByteDance—the Chinese parent company of TikTok—to sell off its American operations or risk a total ban, citing fears of sensitive user data being shared with the Chinese government.
The U.S. Supreme Court upheld the constitutionality of that law in January.
In June, Trump issued an executive order pushing the enforcement deadline back by 90 days to September 17, marking the third postponement of a potential nationwide TikTok ban.
TikTok, which boasts an estimated 170 million American users, briefly went dark ahead of Trump’s second inauguration but was reinstated after he pledged to delay the enforcement action.
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