The long-running saga of TikTok’s U.S. operations may be heading toward a resolution as President Donald Trump revealed that a “group of very wealthy people” has been selected to acquire the platform. The disclosure comes amid continued regulatory uncertainty and just months before a potential nationwide ban takes effect.
A Race Against the Clock
Earlier this month, Trump signed his third executive order extending TikTok’s sale deadline, pushing the compliance date to September 17, 2025. This follows sustained legal and political pressure over the app’s ownership by China-based ByteDance and concerns about national security, data privacy, and foreign influence.
The original legislation, passed in early 2025, requires ByteDance to divest from TikTok’s U.S. operations or face a total ban. The U.S. Supreme Court upheld the law in TikTok v. Garland, placing the onus on ByteDance to find a buyer—and fast.
Trump Hints at a Powerful Buyer Group
In a recent interview on Fox News, Trump claimed that a U.S.-based consortium of “very rich individuals” has emerged as the preferred bidder for TikTok. While he declined to name them, he hinted that a formal announcement could be made within two weeks.
Industry insiders suggest the potential buyer pool includes names like private equity firm KKR, venture powerhouse Andreessen Horowitz, and investment firms such as Silver Lake and Blackstone. Previous suitors like Oracle and Microsoft are reportedly still monitoring the deal.
The Algorithm Conundrum
One of the biggest questions remains unanswered: what happens to TikTok’s algorithm?
China has made it clear that ByteDance cannot simply transfer TikTok’s core recommendation engine without state approval. The algorithm is the secret sauce behind the app’s virality, and losing it could diminish TikTok’s value in the U.S. market.
Trump acknowledged this challenge, stating the sale would need “China’s approval”, particularly as it relates to exporting core technology. Without the algorithm, any buyer might be forced to license a watered-down version or build a replacement from scratch.
U.S. and Chinese Approval Still Pending
For the deal to proceed, it must pass through a sea of regulatory checkpoints:
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U.S. Approval from the Committee on Foreign Investment in the United States (CFIUS) and potentially the Federal Trade Commission (FTC).
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Chinese Export Clearance, especially regarding proprietary software and algorithmic models protected under Beijing’s export control laws.
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ByteDance Sign-Off, which may be contingent on preserving some control or IP rights over the global TikTok infrastructure.
What’s at Stake
TikTok currently serves over 170 million users in the United States, including millions of creators and small businesses that rely on the platform for income and marketing. A change in ownership—or disruption of the algorithm—could have massive implications across digital advertising, influencer economies, and political discourse.
Analysts also warn that how this sale is handled could set a precedent for future tech regulation, especially as tensions between the U.S. and China deepen over data sovereignty and AI governance.
The Road Ahead
With just under three months to go, the TikTok sale is entering a critical phase. Trump’s announcement may provide momentum, but without swift regulatory approvals from both Washington and Beijing, the platform’s future remains uncertain.
The next key date to watch: mid-July, when the identities of the buyer group may finally be revealed. Until then, TikTok’s fate—and the fate of its millions of users— hangs in the balance.
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