(qlmbusinessnews.com . Mon 30th Jun, 2025) London, UK —
Exclusive: President Trump Reveals Plans to Sell TikTok to Wealthy Group, Awaits China's Approval
President Donald Trump has announced the identification of a prospective buyer for TikTok, the video-sharing application recently outlawed in the US due to concerns over national security implications.
During an interview with Fox News, Trump disclosed his connection with a cadre of “extremely affluent individuals” interested in purchasing the app, hinting at a revelation of details in the forthcoming fortnight.
For such an acquisition to proceed, the endorsement of the Chinese authorities is imperative. However, Trump expressed optimism about securing approval from China’s President Xi Jinping, stating his belief that Xi “will probably acquiesce”.
This announcement comes after Trump had postponed the enactment of legislation necessitating TikTok's divestment for the third occasion.
ByteDance, TikTok's parent entity, now faces a deadline until 17 September to finalise a sale agreement, as per the most recent deferment.
The Reporters has sought comments from TikTok regarding this development.
An earlier endeavour to transfer TikTok's ownership to an American enterprise was aborted in April, following discord between the White House and China concerning Trump's trade tariffs.
It remains uncertain whether the buyer Trump currently alludes to is identical to the interested party from three months prior.
The US legislature last April passed a bill mandating TikTok’s sale, propelled by apprehensions that the application or its owning company could relay user data from the US to the Chinese government, suspicions that TikTok has refuted.
Although Trump had initially critiqued the app, he grew to advocate for its usage in the US, viewing it as instrumental to his 2024 electoral victory.
Originally slated to be enacted on 19 January, the law has seen multiple delays due to Trump’s executive decisions, a move that has incurred displeasure for countervailing legislative authority.
TikTok's legal contestation against the law's constitutionality was unsuccessful, failing to win favour from the US Supreme Court.
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