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Trump Says He Has A Buyer Lined Up For TikTok
President Donald Trump said a “group of very wealthy people” was lined up to purchase TikTok—after repeatedly delaying enforcement of a ban on the popular short form video app owned by Chinese tech company ByteDance.
Congress passed the Protecting Americans from Foreign Adversary Controlled Applications Act in March 2024, which required ByteDance to sell TikTok to an American owner or face a ban on operations in the U.S. The bill was passed with bipartisan support and signed into law by former President Joe Biden in April 2024, but ByteDance immediately challenged the legality of the ban .
It’s unclear how much ByteDance would sell TikTok for. Valuations for the wildly popular app, which draws 170 million users in the U.S., according to the company, range from billion to over billion