The Trump administration is actively negotiating with four potential buyers for TikTok’s U.S. operations, aiming to finalize a deal before the impending ban deadline. President Trump, speaking aboard Air Force One, expressed optimism about reaching an agreement soon, stating, “We’re dealing with four different groups, and a lot of people want it… all four are good.”
The urgency for a sale stems from a law passed in April 2024, which mandates that ByteDance, TikTok’s China-based parent company, divest its U.S. operations by April 5, 2025, or face a nationwide ban. This legislation, upheld by the U.S. Supreme Court in January 2025, reflects national security concerns over potential data access by the Chinese government.
Among the interested parties is a consortium led by former Los Angeles Dodgers owner Frank McCourt and Reddit co-founder Alexis Ohanian. Additionally, Oracle Corp., which currently hosts TikTok’s U.S. user data, has been mentioned as a potential buyer. Speculation also surrounds tech entrepreneur Elon Musk, although he has publicly dismissed interest in acquiring TikTok’s U.S. operations.
TikTok’s U.S. division is estimated to be valued at approximately $50 billion, underscoring the platform’s significant market presence. Any prospective deal would require approval from both U.S. and Chinese regulatory authorities, adding complexity to the negotiations.
The platform’s future has been uncertain since last year, when the U.S. passed a law requiring ByteDance to sell the company or see TikTok removed from app stores. The law gave ByteDance until January 19, 2025, to comply. However, President Trump issued an executive order upon taking office on January 20, 2025, delaying the ban’s enforcement by 75 days to allow more time for a sale.
The administration’s current efforts to facilitate a sale reflect a significant shift from President Trump’s previous stance during his first term, when he sought to ban TikTok over national security concerns. Now, the administration aims to balance these concerns with the platform’s popularity and economic significance.
As the April 5 deadline approaches, the administration is working diligently to secure a deal that addresses national security issues while preserving TikTok’s operations in the U.S. The outcome of these negotiations will have significant implications for the platform’s 170 million American users and the broader tech industry.
Sources:
- Trump says four bidders in play for TikTok deal ‘soon’
- The Supreme Court’s decision upholding the TikTok ban, explained
- Trump says 4 groups in talks to buy TikTok as April deadline looms: ‘A lot of people want it’
- From backing a ban to being hailed as a savior: Inside Trump’s TikTok shift
