'It's a group of ...': Trump says US has buyer for TikTok; seeks to take Chinese President Xi Jinping's approval

US President Donald Trump on Sunday said that he has a buyer for TikTok, which is facing a looming ban in America due to its China ties. The US president further said that he will name the purchaser in two weeks.

"We have a buyer for TikTok. I'll need probably China approval and I think President Xi will probably do it. It's a group of very wealthy people," he said in an interview with Fox News.

.@POTUS: “We have a buyer for TikTok… I’ll need probably China approval and I think President Xi will probably do it… It’s a group of very wealthy people.” pic.twitter.com/N8tWYfKjYg

— Rapid Response 47 (@RapidResponse47) June 29, 2025

Trump’s remarks come as the clock ticks on ByteDance’s obligation to divest from TikTok’s American operations.

A law passed by Congress last year mandated the sale, citing national security concerns over Chinese access to US user data.

While the legislation allowed for one extension, Trump has now said he would grant a third deadline extension, potentially giving ByteDance up to 90 days beyond June 19 to finalise a deal.

So far, the White House has not commented on Trump’s statement or provided clarity on the identity of the potential buyers.