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WASHINGTON — Former U.S. President Donald Trump has claimed that a group of "very wealthy people" is prepared to buy TikTok’s U.S. operations, as the September 17 divestment deadline inches closer. In an interview aired Sunday on Fox News’ Sunday Morning Futures, Trump stated he will likely disclose the names of these potential buyers “within about two weeks.”

TikTok, owned by Chinese tech giant ByteDance, has been under pressure to sever ties with its Beijing-based parent company since the U.S. Congress passed the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) in 2024. The law mandates a forced sale of TikTok’s U.S. assets or a complete ban on its operation in the country.

Trump’s Third Extension and Beijing’s Role

Trump, who returned to the White House earlier this year, extended the deadline for ByteDance to divest for a third time earlier this month. The latest deadline now stands at September 17, 2025, giving TikTok a brief reprieve after it went dark temporarily in January before Trump granted an extension.

“This deal will probably require Beijing’s blessing,” Trump told Fox News. “But I think President Xi will probably do it.”

ByteDance has so far resisted calls to sell, arguing that any forced divestiture would involve complex technology transfers and would require approval under Chinese export control laws. Analysts believe that if a sale were to move forward, it would likely take the form of a spin-off with limited Chinese equity retention—a model that had previously been explored in April but collapsed amid new U.S. tariffs on China.

The Bigger Picture: Tech, Politics, and Global Tensions

At the center of the debate is the concern that TikTok, with more than 170 million users in the United States, could be used by the Chinese government to collect data or influence public discourse. U.S. lawmakers from both major parties have supported the divest-or-ban policy, citing national security risks.

Trump, however, has taken a more nuanced position. He credits TikTok with helping him gain support among Gen Z voters and has said he would prefer not to see the platform banned entirely. Instead, he has floated various ownership models, including one where U.S. investors acquire the company and sell a 50% stake to the federal government to ensure accountability and oversight.

Who’s in the Running?

So far, several high-profile names have been floated as interested buyers or stakeholders:

• Larry Ellison’s Oracle, which was previously part of a failed 2020 deal to take over TikTok's U.S. operations
• AppLovin, a mobile app tech firm with experience in advertising infrastructure
• Perplexity AI, an emerging AI search company with interest in short-form content platforms

While none of these bids have been formalized publicly, insiders suggest Trump’s circle is working behind the scenes to coordinate a deal that would satisfy both Washington and Wall Street.

Legal Uncertainty Still Looms

Even if a buyer is secured, legal experts caution that any deal must comply with the terms set forth in PAFACA. The legislation bars continued access to U.S. app stores or internet service support for platforms owned or significantly influenced by foreign adversaries. If ByteDance retains too much control—even indirectly—the deal could be blocked by U.S. courts or regulators.

“There are real questions about how to structure a deal that satisfies national security concerns without triggering a protracted legal battle,” said Andrea Lewis, a senior fellow in digital governance at the Brookings Institution.

Moreover, any agreement is likely to face scrutiny under Chinese laws regulating cross-border data flows and export controls on AI algorithms, meaning Beijing’s sign-off is not guaranteed.

The Road Ahead

With less than three months until the September deadline, pressure is mounting. ByteDance has yet to publicly acknowledge any active talks, and the Chinese government has warned that forced divestitures of Chinese-owned tech assets could result in retaliation.

Yet Trump remains optimistic. “There’s a good solution out there,” he told Maria Bartiromo. “One that protects American users and keeps innovation alive.”

Whether that solution will materialize — and be acceptable to all parties — remains to be seen.