Speaking during a Fox News interview aired on Sunday, Trump stated he could disclose the identities of the potential investors within two weeks.
The president's comments come as TikTok faces a looming September 17 deadline for its Chinese parent company, ByteDance, to divest from the platform or face a nationwide ban.
The sale is mandated under the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which seeks to limit foreign influence over U.S.-based tech platforms due to national security concerns.
'I think President Xi will probably do it,' Trump said, referring to Chinese leader Xi Jinping, whose approval is likely required for ByteDance to move forward with any deal. ByteDance is headquartered in Beijing and has previously resisted selling the app.
On June 19, Trump extended the deadline for TikTok's parent company to find an American buyer by another 90 days. This marked his third extension since the U.S. Supreme Court upheld the divestment law shortly before his second inauguration in January. The app briefly went offline in the U.S. ahead of the original deadline but was reinstated after Trump granted a temporary reprieve.
Despite initially backing a ban during his first term, Trump now supports keeping TikTok operational, citing its influence among young voters. He has floated various proposals, including a plan for American investors to acquire the platform and later sell a 50% stake to the U.S. government.
Several U.S. firms and Trump allies have expressed interest in acquiring TikTok, including Oracle's Larry Ellison, Reddit co-founder Alexis Ohanian, and former Treasury Secretary Steven Mnuchin. Tech companies like Amazon, AppLovin, and Perplexity AI have also made bids.
White House Press Secretary Karoline Leavitt confirmed the administration's commitment to ensuring Americans retain access to the app, which has over 170 million U.S. users.
'President Trump does not want TikTok to go dark,' she said.
Although TikTok denies posing any security risks, legal experts warn that any deal could face court challenges depending on its structure and compliance with U.S. law. For now, the app's fate hinges on Beijing's response â€" and whether Trump's group of wealthy suitors can strike a deal in time.
Wycliffe Nyamasege
