Deep-pocketed buyers are ready to take-over TikTok, Donald Trump
Washington: U.S. President Donald Trump has stated that a group of “extremely wealthy people” is prepared to buy the video-sharing platform TikTok.
In an interview with Fox News, he mentioned that he would provide more details on the matter within approximately two weeks.
Approval from the Chinese government is required for the sale of TikTok. However, Trump expressed confidence that President Xi Jinping would approve it.
Last April, the U.S. Congress passed a law stipulating that TikTok could only operate in the U.S. if it was sold.
Lawmakers are concerned that the app or its parent company, ByteDance, could share American user data with the Chinese government, a claim denied by TikTok.
This law was set to take effect on January 19 of this year, but Trump delayed its enforcement using his executive powers. Currently, ByteDance has until September 17 to sell TikTok. Earlier attempts to sell TikTok in April failed due to tensions between the U.S. and China over tariffs.
It remains unclear whether the buyer Trump refers to is the same as the one interested in purchasing TikTok three months ago. More details on this matter are expected to emerge soon.
He’s also said he was open to allies Larry Ellison or Elon Musk buying the app, although Musk seems like a less likely candidate now.
