President Trump is actively pursuing a deal with domestic investors to acquire a controlling stake in the popular video-sharing app, thereby reducing Chinese ownership.
President Trump announced on Saturday a potential plan to resolve the TikTok situation, aiming for a decision within the next month. Speaking to reporters on Air Force One, he confirmed significant interest from US investors in acquiring the app.
This follows TikTok’s temporary US shutdown last weekend after its parent company, ByteDance, missed a January 19th deadline to divest its American operations. The US Supreme Court upheld a law requiring ByteDance to sell the app to a US entity due to national security concerns. Service resumed hours later after Trump announced a 90-day extension and a proposal for US acquisition of a majority stake.
“I have spoken to many people about TikTok, and there is great interest in TikTok… If we can save TikTok, I think it would be a good thing,” Trump stated.
According to Reuters, negotiations are underway for a deal where ByteDance would retain a minority share, with US investors and software companies managing data and software updates. Oracle, which has hosted US TikTok user data since 2022, is reportedly under consideration for this role, although Trump denied their involvement.
“No, not with Oracle. Numerous people are talking to me, very substantial people, about buying [TikTok] and I will make that decision probably over the next 30 days,” Trump said during the flight.
Microsoft is among the potential investors, according to NPR, citing sources, with meetings planned for next week. Neither Microsoft nor Oracle commented on the reports.
Trump initially suggested a 50/50 joint venture between ByteDance and US investors. He recently indicated that TikTok would be “worthless” without a US operating permit but could be worth $1 trillion with one. He mentioned Elon Musk as a potential buyer. Other reported interested parties include MrBeast and Frank McCourt.
ByteDance has yet to confirm any agreement to sell TikTok. However, reports suggest the Chinese government is considering this proposal to avoid a US ban.