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    You are at:Home»Technology News»Trump Claims ‘Very Wealthy’ Group Lining Up to Buy TikTok
    Technology News

    Trump Claims ‘Very Wealthy’ Group Lining Up to Buy TikTok

    Abdullahi JimohBy Abdullahi JimohJune 29, 202502 Mins Read
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    EU (News Central TV)
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    US President Donald Trump has claimed that a group of wealthy investors is prepared to purchase the US operations of TikTok, with an official announcement expected within a fortnight.

    Speaking during an interview on Fox’s Sunday Morning Futures with Maria Bartiromo, the US president said, “We have a buyer for TikTok, by the way. Very wealthy people. It’s a group of wealthy people.”

    Trump did not disclose the names of those involved but said their identities would be revealed “in about two weeks.”

    TikTok, which is owned by Chinese tech firm ByteDance, faces a potential ban in the United States under legislation citing national security concerns over its ties to China. The law would have come into force the day before Trump’s presidential inauguration in January, but he postponed enforcement.

    In June, Trump granted TikTok another 90-day extension—the third so far—to find a non-Chinese buyer or face prohibition in the US.

    Interestingly, although Trump had once strongly backed a ban or forced sale of TikTok, he has softened his stance recently, apparently due to the app’s popularity among young voters, a key demographic in his 2024 election campaign.

    TikTok (News Central TV)

    “I have a little warm spot in my heart for TikTok,” Trump told NBC News in May, adding that he would be willing to extend the deadline further if necessary.

    He also claimed in May that a group of buyers was prepared to offer ByteDance “a lot of money” for the US division of TikTok. He suggested that Chinese President Xi Jinping might approve the deal, saying, “I think President Xi will probably do it.”

    ByteDance has acknowledged ongoing discussions with the US government and confirmed that any transaction would require approval under Chinese law.

    The TikTok saga has come to symbolise the growing technological and geopolitical rivalry between Washington and Beijing.

    Donald Trump Tiktok united states
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    Abdullahi Jimoh

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