President Donald Trump said that negotiations were underway with multiple potential buyers for TikTok’s US business — with a deal possibly materializing soon.
Trump told reporters aboard Air Force One on Sunday that four different groups were in discussions to acquire the popular video-sharing platform.
“We’re dealing with four different groups, and a lot of people want it,” Trump said.
While he did not specify the names of the bidders or indicate his preference, he noted, “All four are good.”
TikTok, owned by Beijing-based ByteDance Ltd., faces an April 5 deadline to divest its US operations or risk a nationwide ban under legislation enacted during the Biden administration.
Several notable bidders have reportedly emerged. Trump previously has mentioned Oracle Corp. founder Larry Ellison as a potential player. TikTok already collaborates with Oracle for the hosting of its US user data.
A consortium led by billionaire real estate mogul Frank McCourt and Reddit co-founder Alexis Ohanian is also among the contenders.
According to reports from Bloomberg News, Chinese officials have considered a scenario in which Elon Musk acquires TikTok’s US operations, though they remain strongly in favor of keeping the platform under ByteDance’s control.
Musk, the owner of social media platform X, has publicly dismissed interest in such an acquisition.
Another bid involves San Francisco-based Perplexity AI. Other competing groups include one spearheaded by tech entrepreneur Jesse Tinsley, which also features YouTube star Jimmy Donaldson — better known as MrBeast.
With the US serving as TikTok’s largest and most lucrative market, the stakes are high.
Last year, TikTok’s US arm was estimated to be worth as much as $50 billion. ByteDance also operates a similar platform, Douyin, exclusively in China.
Trump has signaled a willingness to extend the deadline if necessary, having already postponed the initial Jan. 19 cutoff to prevent an abrupt shutdown.
As part of the negotiations, Trump has floated the idea that the US government should receive a 50% stake in TikTok as a condition of any sale.
ByteDance, however, has not indicated any interest in selling its US operations.
TikTok CEO Shou Chew has met with Trump at Mar-a-Lago and also attended his inauguration in an effort to ingratiate himself with the president.
Chew’s lobbying comes amid the company’s ongoing efforts to navigate US regulatory scrutiny.
ByteDance has worked to address national security concerns among American lawmakers to maintain its foothold in the country.
The privately held company is currently valued at over $400 billion, according to investors such as SoftBank Group Corp.
The Chinese-based tech giant recently bought back employee shares at a $312 billion valuation — a sign of its growing confidence in expansion plans.
Any potential sale of TikTok’s US operations would also require approval from the Chinese government, which has thus far been resistant to such a move.
The Post has sought comment from TikTok.
