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2w ago

Trump Announces Wealthy Group to Acquire TikTok’s U.S. Operations

Revealing the investors in two weeks depends on Beijing granting approval for the acquisition.

U.S. President Donald Trump speaks during a meeting with Democratic Republic of the Congo's Foreign Minister Therese Kayikwamba Wagner (not pictured) and Rwanda's Foreign Minister Olivier Nduhungirehe (not pictured) in the Oval Office at the White House in Washington D.C., June 27, 2025. REUTERS/Ken Cedeno
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Overview

  • President Trump told Fox News a consortium of "very wealthy people" is lined up to buy TikTok’s U.S. unit without identifying them.
  • He said he will disclose the investors’ identities in about two weeks.
  • He indicated that the sale requires approval from China’s leadership, particularly President Xi Jinping.
  • The announcement came after multiple extensions to a January sell-or-ban deadline set under a 2024 national security law.
  • The potential deal highlights U.S. data security concerns for TikTok’s 170 million American users and the ongoing regulatory standoff with Beijing.