U.S. President Donald Trump revealed on Sunday that his administration is in discussions with four potential buyers for TikTok, the Chinese-owned social media platform facing a forced sale due to national security concerns.
Trump, speaking aboard Air Force One, stated that negotiations were progressing and that "a lot of people want it." He emphasized that all four interested parties were strong contenders.
TikTok’s future has been uncertain since a law mandating its owner, ByteDance, to divest the platform or face a ban took effect on January 19. After assuming office on January 20, Trump signed an executive order delaying enforcement by 75 days, providing additional time for a sale.
Among the potential buyers is former Los Angeles Dodgers owner Frank McCourt, joining other unnamed groups vying for TikTok. Analysts estimate the company’s valuation could reach $50 billion, making it a highly coveted acquisition.
Neither TikTok nor ByteDance responded immediately to requests for comment.
With TikTok’s massive user base and influence, the outcome of these negotiations could have significant implications for the tech industry, social media landscape, and U.S.-China relations.