TikTok Sale to 'Very Wealthy' Group Set to Take Place Soon, Says Trump

President Donald Trump has revealed that TikTok already has a buyer in the United States. Trump revealed that a "very wealthy" group is behind this TikTok sale but refrained from naming who exactly is set to purchase the currently Chinese-owned platform and lead its US operations.

Trump Reveals a 'Very Wealthy' Group to Buy TikTok

Fox News shared a recent interview with President Trump, and here, the American leader revealed that a "very wealthy" group is now poised to be the next owner of TikTok and is committed to buying the platform.

The US President has been on top of TikTok's sale since the start of his term earlier this January, and he has since been hands-on with finding a potential partner.

Trump also revealed that he would still need time to talk to China's President, Xi Jinping, for his approval on the deal.

This statement only reveals that the deal has been set with the United States' side only but not yet on ByteDance and China's end. With that said, Trump believes that the Chinese president would possibly green light the sale.

Trump to Unveil TikTok's Buyer in 2 Weeks

When asked about who these potential buyers are, President Trump only said that they are "a group of very wealthy people" and avoided naming who.

However, the buyer is set to be revealed in "about two weeks," said Trump.

TikTok's Sale and Trump's Patronage

ByteDance and TikTok are known for being headstrong against the sale of the Chinese social media platform to a United States buyer or company for many years, and they have opposed the country and its laws in recent times. This led to TikTok's ban earlier this year after failing to adhere to the Foreign Adversary law but only lasted for several hours thanks to the then-President-elect.

To date, there have already been three extensions given by President Trump to TikTok, with the first one happening in January, which effectively extended their search for their new owners until April. However, while the US was still negotiating with China and ByteDance on who gets to buy TikTok, the extension elapsed, but the company was given more time until June 19, which also already expired.

Earlier this month, TikTok was given its third extension by the Trump administration to find their buyer, with the company given another 75 days to finalize a deal. Now, a sale is closer to reality than before.