TikTok faces a critical deadline, having until April 5 to secure a new U.S. owner to avoid shutting down operations in the country. President Trump acknowledged substantial interest from potential buyers, including prominent figures like Kevin O'Leary and Alexis Ohanian, and suggested he might extend the deadline based on the sale progress. The TikTok situation arises from a Senate law mandating divesture from its Chinese owner, ByteDance, and Trump has proposed various strategies, including leveraging a sovereign wealth fund to facilitate a purchase.
President Trump indicated during a press conference that there is considerable interest in acquiring TikTok and is open to extending the sale deadline if required.
Under the divest-or-ban law, TikTok must find a US owner by April 5, with interest from notable figures suggesting possible avenues for a deal.
Trump mentioned that several big-name buyers, including Elon Musk and Larry Ellison, could potentially be interested in purchasing TikTok amid ongoing negotiations.
In an effort to facilitate a sale, Trump discussed the idea of creating a sovereign wealth fund specifically to buy TikTok, underscoring its importance.
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