United States President Donald Trump said during a Fox News interview on Sunday, June 29, that he had identified a group of “very wealthy people” to buy the social media app TikTok.
This news, reported by Reuters, comes after President Trump has repeatedly given TikTok’s Chinese parent company, ByteDance, additional time to comply with a TikTok divest-or-ban law that Congress overwhelmingly passed with bipartisan support last year. The law then held up against appeal in U.S. Federal court and at the United States Supreme Court.
During Fox News’ “Sunday Morning Futures with Maria Bartiromo,” President Trump said he is developing a TikTok deal that would likely require the Chinese government’s approval. Trump went one step further, suggesting that Chinese President Xi Jinping would likely approve the deal.
Watch Part 3 of @MariaBartiromo‘s interview with @POTUS where they discuss the future of tariffs, A.I., TikTok, and green energy pic.twitter.com/B5u5S9iOF2
— SundayMorningFutures (@SundayFutures) June 29, 2025
As for precisely who the group of “very wealthy people” lining up to buy TikTok are, President Trump played that card close to the vest, teasing that he will reveal their mysterious identities in “about two weeks.”
This is not the first time a deal for TikTok has made significant progress. This spring, a deal to sell TikTok’s U.S. operations to a U.S.-based owner was reportedly in the works, but it fell through after China rejected it following President Trump’s announcement of significant tariffs against Chinese goods. The U.S. and China announced a new trade agreement last week.
While the TikTok ban law came into existence after Trump’s demands during his first administration, he now credits the app for helping him return to the White House. The President has given TikTok multiple crucial lifelines since returning to the Oval Office in January. ByteDance currently has until September to find a buyer for TikTok to comply with U.S. law. However, given that the TikTok ban has been pushed back three times since Trump took office, it is difficult to predict if the clock running out on TikTok would actually matter or if yet another extension would be in the offing.
Image credits: Header photo licensed via Depositphotos.
