Former U.S. President Donald Trump announced that a group of “very wealthy people” are poised to purchase the popular short-video app TikTok. In an interview with Fox News, he stated that he will reveal the identities of the buyers in about two weeks.
Trump mentioned that the deal would likely require approval from China, and he expressed optimism that Chinese authorities would grant it. “I think I’ll need probably China’s approval,” he said, adding that China would “probably do it.”
Earlier, despite an order mandating a sale or shutdown, Trump had extended the deadline for ByteDance, the China-based company that owns TikTok, to divest its U.S. assets.
A previous deal to spin off TikTok’s U.S. operations into a new U.S.-based company, majority-owned by U.S. investors, was halted after China indicated it might not approve it following trade tensions.
An executive order required TikTok to cease operations unless ByteDance completed the divestment or demonstrated significant progress toward a sale. Trump, who credited the app with boosting his support among young voters in the 2020 presidential election, had extended the deadline multiple times.
