The president said he would announce more in a couple of weeks
In a recent interview, President Donald Trump told Fox News that he has found a buyer for TikTok. The Chinese social media company, which was recently banned in the U.S., seems to have found a lifeline.
The president said a group of “very wealthy people” is set to buy the short-form video app.
“We have a buyer for TikTok, by the way,” Trump said in the Fox News interview on Sunday morning. “I think I’ll probably need China’s approval. I think President Xi [Jinping] will probably do it.”
No more details were shared about the buyers, but the president said he would announce more in a couple of weeks. The purchase stems from an executive action made by the president in January.
The president took to Truth Social at the time.
“I’m asking companies not to let TikTok stay dark! I will issue an executive order Monday to extend the period before the law’s prohibitions take effect so that we can make a deal to protect our national security. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order,” said President Trump.
Less than a day later, TikTok returned to service, temporarily, while the president worked on a deal for a new buyer.
President Joe Biden signed legislation on April 24, 2024, that would shut the platform down within a year, citing national security and child protection concerns. A lawsuit by TikTok followed, stating security concerns were overblown and violated the First Amendment. However, the Supreme Court upheld the findings on Friday following a federal investigation.
Elon Musk and Larry Ellison have been floated as possible landing spots for the service.
This is an ongoing story. Check back for updates.
UCBJ file photo.
Copyright 2025 The Upper Cumberland Business Journal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Other stories you may want to check out:
