Trump Pursues Four Groups for TikTok Sale as April Deadline Approaches
President Donald Trump announced Sunday that his administration actively negotiates with four different groups interested in purchasing TikTok’s US operations.
Speaking to reporters aboard Air Force One, Trump declined to name the potential buyers but expressed confidence in all candidates. “We’re dealing with four different groups, and a lot of people want it,” Trump said.
He added that all four options show promise and suggested a deal could materialize soon. The president’s comments come as the April 5 deadline for ByteDance to sell TikTok or face a nationwide ban draws closer.
Several serious contenders have emerged in the race to acquire the popular video platform. Oracle founder Larry Ellison leads one potential bid, with Trump previously mentioning him as a favorable option. Oracle already partners with TikTok to manage US user data storage.
Another bid comes from billionaire real estate investor Frank McCourt, who enlisted Reddit co-founder Alexis Ohanian as a strategic advisor. Tech entrepreneur Jesse Tinsley heads a third group featuring popular content creator Jimmy Donaldson, better known as MrBeast.
Reports also mention San Francisco-based Perplexity AI among interested parties. Trump extended the original January 19 deadline by 75 days after taking office.
ByteDance and TikTok’s US Operations
The mandate for ByteDance to divest stems from legislation passed during the Biden administration citing national security concerns. US lawmakers fear the Chinese government could access American user data or manipulate content through the platform.
The situation grows more complex as Trump proposed the US government should receive a 50% stake in any TikTok deal. ByteDance has shown reluctance to sell its US operations, valued at approximately $50 billion.
TikTok CEO Shou Chew attended Trump’s inauguration at Mar-a-Lago to build rapport with the president. Sources familiar with the situation report actual negotiations between ByteDance and potential buyers have yet to begin.
This delay creates mounting pressure as the deadline looms. Trump possesses authority to further extend the timeline if necessary. Any sale requires approval from Chinese authorities, who prefer keeping TikTok under ByteDance ownership.
The platform serves about 170 million American users, making the US TikTok’s largest and most profitable market worldwide.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief