U.S. President Donald Trump has confirmed that discussions are underway with four different parties interested in acquiring the U.S. operations of TikTok, as the Chinese-owned app faces pressure to either be sold or banned.
Trump, speaking to reporters aboard Air Force One, stated, “We’re dealing with four different groups, and a lot of people want it … all four are good.” He did not disclose the identities of the potential buyers but indicated that a deal could materialise soon.
The fate of TikTok has been undecided since a U.S. law, which took effect on January 19, mandated that its parent company, ByteDance, divest the platform over national security issues or face a ban.
The legislation comes from fears that the Chinese government could leverage the app to gather data on American users or manipulate public opinion.
After assuming office for a second term on January 20, Trump signed an executive order delaying the enforcement of the law by 75 days, allowing more time for negotiations. However, TikTok briefly disappeared from app stores in the U.S. before service was restored following the delay.
Several high-profile entities have shown interest in acquiring TikTok’s U.S. operations. Among them is former Los Angeles Dodgers owner Frank McCourt, who has backed an initiative called The People’s Bid for TikTok through his Project Liberty venture.
Other reported candidates include Microsoft, Oracle, and a consortium involving popular internet personality Jimmy Donaldson, known as MrBeast. Analysts estimate TikTok’s U.S. business could be valued at up to $50 billion, making it a highly sought-after asset.
Beyond the financial implications, the possible sale reveals a disturbing geopolitical tension between the U.S. and China, particularly in the space of technology and data security.
The U.S. government has been investigating Chinese tech firms over issues related to data privacy and cybersecurity, with TikTok being one of the most high-profile targets.
However, TikTok and ByteDance have not publicly commented on the latest development.