LOS ANGELES — President Donald Trump is slated to meet with his aides on Wednesday to discuss potential investors interested in acquiring a stake in TikTok. This development could avert the looming ban on the social media platform in the United States.
According to sources familiar with the situation, who provided information anonymously as they were not authorized to speak publicly, these discussions involve selling shares of TikTok to comply with directives requiring its Chinese parent company, ByteDance, to divest due to national security concerns. Following his inauguration, Trump issued an executive order delaying the implementation of this law until April 5, which was initially set to take effect on January 19.
Potential buyers reportedly include major players such as Oracle and the investment firm Blackstone. In the upcoming meeting at the Oval Office, Trump is expected to confer with Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
President Trump, while addressing the press aboard Air Force One on Sunday, expressed his preference for keeping TikTok operational in the U.S. He hinted that tariff reductions on China could be possible should the sale go through. Throughout his first term, Trump moved to ban TikTok due to security concerns, though those efforts were halted by the courts. While he ultimately sought to facilitate a sale of the platform, that process failed. Now, he attributes part of his success with young voters in the last presidential election to the application.
He remarked on his electoral success with the younger demographic, noting, “I won the young vote by 36 points. Republicans generally don’t do very well with the young vote. I think a lot of it could have been TikTok.”
Trump has indicated that the deadline for resolving the TikTok situation may be extended if necessary. Previously, he proposed a plan in which the U.S. government would hold a 50% stake in a collaborative enterprise with the app. Specifics regarding this proposal remain undefined.
Neither TikTok nor ByteDance have publicly commented on the ongoing negotiations, and ByteDance has not confirmed any intentions to sell TikTok. The possibility of an alternate outcome remains a consideration, as ByteDance previously expressed no plans to divest.
Should an approved buyer not acquire TikTok by April 5, the original law enforcing a nationwide ban would come into effect. However, the executive order deadline might not be definitive, as Trump has suggested it could be extended if deemed necessary.
Recently, the Supreme Court upheld a law mandating ByteDance’s divestment, which encountered resistance shortly thereafter. Trump managed to temporarily prevent the ban by issuing an executive order, persuading TikTok to resume operations for U.S. users.
Despite scrutiny, Trump’s decision to maintain TikTok’s presence through an executive order has yet to face legal challenges.
While ByteDance’s approach to selling TikTok remains uncertain, several prospective buyers have emerged over recent months. Vice President JD Vance’s team, responsible for exploring this potential deal, has engaged with interested parties such as the artificial intelligence firm Perplexity AI, gathering further information on their bids. In January, Perplexity AI proposed a merger between their business and TikTok’s U.S. operations to ByteDance.
Another potential group of investors is led by billionaire Frank McCourt, who recently enlisted Reddit co-founder Alexis Ohanian as a strategic advisor. This consortium has reportedly tabled a $20 billion cash offer for TikTok’s U.S. venture, planning to incorporate blockchain technology to enhance user data control.
Additionally, Jesse Tinsley, founder of the payroll company Employer.com, has also formed a consortium alongside the CEO of the gaming platform Roblox, proffering more than $30 billion for TikTok.
Trump noted in January that Microsoft had expressed interest in purchasing TikTok, along with other parties such as Trump’s former Treasury Secretary Steve Mnuchin and the video platform Rumble. Last March, Rumble indicated its readiness to join an investor consortium for TikTok and serve as the company’s technical partner in a post on social media.