This article was originally publisehd by Tyler Durden at ZeroHedge.
President Donald Trump, in a pre-taped interview on Fox News’ Sunday Morning Futures with Maria Bartiromo, revealed that “a group of very wealthy people” is prepared to acquire TikTok’s U.S. operations. While he did not disclose the identities of the investors, Trump hinted that the names could be made public in the coming weeks.
“We have a buyer for TikTok, by the way. I think I’ll probably need China’s approval, and I think President Xi will probably do it,” Trump told Bartiromo, noting, “It’s a group of very wealthy people.”
TikTok’s future in the U.S. has been uncertain since the passage of the 2024 bipartisan law, the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which requires the platform’s Chinese parent company, ByteDance, to divest its ownership or face a nationwide ban. The legislation was fueled by growing concerns over various national security threats, including foreign interference in elections and potential misuse of sensitive user data.
Just weeks ago, Trump once again delayed enforcement of PAFACA through an executive order, pushing the deadline back to mid-September. The original implementation date had been set for his inauguration in January.
Trump has been a supporter of TikTok, recently touting his popularity on the app: “I was No. 1 on TikTok in its history. Can you believe that? … So I guess I like TikTok.”
Trump has tasked Vice President JD Vance with overseeing efforts to find a potential buyer, which could include Oracle’s Larry Ellison and firms like Perplexity AI and AppLovin.
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