U.S. President Donald Trump has revealed that a group of wealthy American investors is set to buy TikTok, the popular video-sharing app currently owned by Chinese company ByteDance.
Speaking during an interview on Sunday, Trump said the buyers are a “consortium of affluent individuals” and promised that their names would be made public in the next two weeks.
The announcement comes amid growing pressure from U.S. lawmakers, who have raised concerns about national security and the risk of Chinese government access to user data. A law passed by the U.S. Congress requires ByteDance to sell TikTok’s U.S. operations or face a complete ban in the country.
The deadline for the sale, initially set for January 19, 2025, has been extended three times by Trump, who is seeking a careful approach due to TikTok’s popularity among young Americans.
Trump noted that while the sale is moving forward, it could face delays due to U.S.-China trade tensions and regulatory hurdles on both sides.
“The deal might be slowed down by China-U.S. trade tensions, but it’s progressing steadily,” Trump said.
He also acknowledged TikTok’s role in modern campaigning, saying the app helped connect with young voters during his political run—an audience Republicans have often struggled to reach.
Analysts say the move is part of a wider power struggle between the U.S. and China, as both countries compete for control over global tech platforms and data access.
