Trump Touts TikTok Takeover by Wealthy Investors
U.S. President Donald Trump has revealed that he has identified a group of "very rich" individuals interested in acquiring TikTok. In an interview aired on Fox News' Sunday Morning Futures with Maria Bartiromo, Trump stated that he plans to disclose the names of these investors within the next two weeks, according to a report by Reuters.
Trump added that finalizing the deal may require approval from the Chinese government and expressed hope that Chinese President Xi Jinping would grant it. Earlier this month, Trump extended the deadline for TikTok's Chinese parent company, ByteDance, to divest its U.S. assets until September 17.
A prior plan to restructure TikTok’s U.S. operations into a new American-based company was stalled due to objections from China. Trump noted that with Chinese approval, a new deal for the sale of TikTok would still be possible.
