Trump Teases “Very Wealthy” Buyers as TikTok Deadline Nears

In a Fox News interview aired June 29, President Donald Trump announced that he has assembled a group of “very wealthy people” ready to buy TikTok’s U.S. operations. He declined to name names but said the group would be revealed “in about two weeks.” The announcement followed his third extension of the federal deadline for ByteDance to divest TikTok’s American assets, now pushed to September 17.

Trump’s latest comments underscore the chaotic and highly political nature of the forced divestment process, which has been unfolding since early this year. The core concern: TikTok’s ownership by Chinese tech giant ByteDance, and the national security risks tied to its control over user data and its proprietary content algorithm.

How We Got Here: A 2025 Timeline

🗓️ January 19, 2025 – A U.S. law goes into effect requiring TikTok to be sold to a non-Chinese buyer or be banned. The law cites security concerns around ByteDance’s data access and influence via TikTok’s recommendation algorithm.

🛑 February-April 2025 – President Trump, shortly after taking office, pauses enforcement and extends the sale deadline twice. Multiple potential buyers emerge, from tech giants like Amazon and Oracle to investor groups led by Frank McCourt, Steve Mnuchin, and even YouTuber MrBeast. Still, none present a viable plan to fully take over TikTok’s algorithm.

🤝 April-June 2025 – Focus shifts from an outright sale to a partial restructuring. Insiders point to Oracle (already TikTok’s U.S. cloud host) and Jeff Yass’s SIG (an existing ByteDance investor) as the most plausible stewards of a deal that would leave the algorithm in China, but bring U.S. data and moderation under American control.

📺 June 29, 2025 – Trump states on Sunday Morning Futures that a wealthy buyer group is in place. He implies Chinese approval may be needed for the deal and expresses confidence.

The Likely Shape of the Deal

While Trump’s rhetoric suggests urgency and control, few expect a dramatic handover. The legal and technical realities point instead to a hybrid solution: Oracle and a group of U.S. investors (possibly including Blackstone, Silver Lake, or Andreessen Horowitz) take over U.S. user data and moderation infrastructure. ByteDance keeps the algorithm, protected under Chinese export law.

This “middle-ground” model reflects the same structure proposed back in 2020 during Trump’s first term, when TikTok faced a similar regulatory crisis. It satisfies key U.S. security demands while avoiding direct confrontation with Beijing.

A Political Tightrope

The delay is not just logistical – it’s strategic. Trump has credited TikTok with helping him reach younger voters during the 2024 election. A pre-election ban could have alienated a digitally native base. Now, with the platform’s future extending beyond summer, the administration can claim momentum without disruption.

As September 17 approaches, all eyes will be on whether Trump’s mystery buyer group becomes more than just talk – and whether both Washington and Beijing are willing to greenlight a compromise that keeps TikTok scrolling in the U.S.