In a recent television appearance, former President Donald Trump reignited speculation over the future ownership of TikTok, one of the world’s most popular social media platforms. Speaking on Fox News’ “Sunday Morning Futures with Maria Bartiromo,” Trump declined to disclose any details about the potential buyer but suggested that a major announcement could be made “in about two weeks.” He further stressed that approval from the Chinese government—specifically President Xi Jinping—would likely be necessary for any deal to proceed.

A Protracted Negotiation With Global Implications

The fate of TikTok has become a focal point in global technology and trade relations since 2020, when concerns about national security prompted U.S. officials to demand that ByteDance, TikTok’s Chinese parent company, divest its American operations. Regulators and lawmakers have cited fears that data from U.S. users could be accessed by the Chinese government, a claim that ByteDance has consistently denied.

In the years since, TikTok has remained under intense regulatory scrutiny. In April 2024, President Joe Biden signed a law mandating that ByteDance sell TikTok’s U.S. operations or face a ban by early 2025. The legislation provided ByteDance with a nine-month deadline to find a suitable buyer, after which the app would be removed from U.S. app stores. This prompted a flurry of speculation about potential suitors, including major U.S. technology and investment firms.

Who Will Buy TikTok’s U.S. Operations?

While Trump declined to name the buyer, industry sources have long speculated that several major companies are interested in acquiring TikTok’s U.S. assets. Prominent names floated in media reports include Microsoft, Oracle, Walmart, and various private equity groups. In recent months, media mogul Steven Mnuchin—Trump’s former Treasury Secretary—has also publicly expressed interest in leading a consortium to purchase TikTok. Other bids may have come from leading technology companies aiming to expand their reach in the vital social media market.

Any prospective buyer faces significant hurdles: negotiations must satisfy both U.S. regulators’ national security concerns and ByteDance’s desire to retain some commercial benefit, all while navigating the increasingly complex U.S.-China relationship.

Chinese Government Approval: A Non-Negotiable Hurdle

The insistence on Chinese government approval reflects the global stakes of this deal. In past statements, Beijing has made clear its opposition to a forced sale, viewing it as a violation of corporate sovereignty and a reflection of mounting tech protectionism. In 2020, China expanded export controls to cover TikTok’s underlying algorithms, requiring government permission for any technology transfer.

President Trump’s recent comment, “I think I’ll need probably China approval, and I think President Xi will probably do it,” underscores just how much geopolitical strategy remains at the heart of any final decision. The outcome will hinge on Washington’s willingness to accept terms satisfying security concerns and Beijing’s readiness to approve a divestiture—particularly if sensitive algorithms are involved.

What’s at Stake for TikTok, Users, and the Tech Industry?

TikTok boasts over 170 million U.S. users and an estimated 1.5 billion global users. For ByteDance, TikTok has been a critical foothold in the Western digital marketplace. For American users and creators, the app’s fate could redefine the future of digital content and influencer-driven economies.

Beyond individual users, the outcome may set enduring precedents about international data privacy, tech ownership, and global internet governance. The U.S. government maintains that protecting personal data and ensuring national security come first; the Chinese government argues that forced divestiture of high-tech assets constitutes unfair treatment and market interference.

Business and Investment Implications

The escalating uncertainty has rippled through global markets. U.S. technology companies have faced new challenges when operating in China, with similar reciprocation by Chinese authorities. The stakes for investors are high: a successful acquisition could grant a major U.S. firm a commanding position in social media, while a failed deal might accelerate a decoupling of global digital ecosystems.

According to recent financial analyses, TikTok’s U.S. assets could be valued between $40 billion and $60 billion. The deal’s structure—whether a full acquisition, partial sale, or establishment of a U.S.-domiciled affiliate—remains a point of debate among lawyers, analysts, and policymakers.

Timeline and Next Steps

With the app’s ban deadline looming, the pressure is mounting for ByteDance and any potential buyers to reach a resolution. Trump’s preview of an impending announcement suggests that negotiations are at a critical juncture, but significant roadblocks could yet delay or derail any deal.

For now, TikTok’s millions of U.S. users and global observers await clarity on the platform’s future. If Trump’s prediction proves correct, the coming weeks could decide not only who owns TikTok, but also how geopolitical shifts will shape the future of technology around the world.