Trump will announce 'very wealthy' buyers of TikTok US business within weeks
Photo: US President Donald Trump (Getty Images)
US President Donald Trump says a new group of wealthy investors may acquire the American segment of TikTok.
Trump said he would announce the buyers of TikTok's US operations, currently owned by China's ByteDance, within two weeks.
He added that the buyers would be "a group of very wealthy people."
TikTok in the US
In 2024, the US Congress passed a law requiring TikTok to be sold to an American buyer. The legislative effort began under the administration of President Joe Biden.
If the deal falls through, the app faces a nationwide ban.
However, after taking office, President Trump has already postponed action against TikTok three times. He even credited the platform with helping boost his popularity among young voters during the presidential campaign.
Trump issued one such delay in April 2025. That move sparked concern among some US lawmakers. They urged the President to clarify his plans regarding TikTok or move forward with a full ban on the app in the United States.
Overall, US officials remain concerned that the platform could transfer sensitive data about American users to Beijing or be used by China to spread disinformation.
Notably, on June 19, President Trump once again postponed the ban on TikTok in the United States.
