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President Donald Trump says he has found a “group of very wealthy people” to buy Tikok’s US operations as part of the efforts to separate ownership of the social media platform from China.
“We have a buyer for Tikkok. I think I will probably need China’s approval and I think President Xi will probably do it,” Trump told Fox News in an interview on Sunday.
The US government has repeatedly delayed its deadline for Tikok owner bytedance to sell their American operations of the video sharing app or to borrow a nationwide ban in the United States. The latest deadline is September 17, which has been pushed three times since the first date in January.
Trump, who attributed Tikok to connect him to younger voters in the 2024 elections in 2024, said he would give more details about the buyers next month.
“I’ll tell you in about two weeks … it’s a group of very wealthy people,” he added.
In April, The financial times registered That the White House discussed a contract with a group of US investors, including Andreessen Horowitz, Blackstone, Silver Lake and other large private capital companies that would have about half of the US business of Tikok.
Large existing investors in Tikkok, which includes General Atlantic, Susquehanna, KKR and Coatue, would also be observed on the US arm, which was about 30 percent of the business.
Every deal would have to be approved by Bytedance and the Chinese government, as Trump has signaled. China had previously explained that it would block a sale, and Trump’s tariffs in China in April apparently planned the negotiations.
Another area of dispute is whether bytedance and China are willing to give up control over Tikok’s algorithm, the underlying technology, which determines what users see on the platform.
Some analysts have suggested that a US company must have control over its algorithm.
Tikoks algorithm is listed in China’s civil servant Algorithm database, And every export of the proprietary and coveted technology will probably attract an improved local exam.
Tikkok did not immediately answer a request for comment.
Additional reporting from Stefania Palma
