US President Donald Trump announced on Sunday that his administration is currently engaging with four separate groups regarding the potential sale of the Chinese-owned social media platform TikTok, emphasizing that “all options are on the table.”
TikTok’s future has been uncertain since the US government passed a law on 19 January mandating its owner, ByteDance, to divest the platform due to national security concerns. Shortly after his inauguration on 20 January, Trump signed an executive order to delay the law’s enforcement by 75 days. This order granting TikTok a 75-day extension to comply with a law banning the app if it is not sold. Executive orders are a powerful tool for US presidents seeking to make an immediate impact on government policy.
When asked if a deal for TikTok was imminent, President Trump, speaking aboard Air Force One, responded, “It could be.” He added, “We’re dealing with four different groups, and a lot of people want it… all four are good.”
At the time of this report, neither TikTok nor ByteDance had provided a comment in response to Reuters’ inquiries outside of regular business hours.
The ongoing uncertainty regarding TikTok’s future has sparked significant interest from a number of potential buyers, including former Los Angeles Dodgers owner Frank McCourt. Analysts have speculated that the platform could be valued as high as $50 billion.