• by Colin Kirkland , June 30, 2025

After signing three separate executive orders extending the selloff of TikTok, President Donald Trump says he has a new buyer for the ByteDance-owned social media platform. 

In an interview on Fox News, Trump said that the White House is in talks with a group of “very wealthy people” who are interested in buying the China-owned app, adding that the Chinese President Xi Jinping would “probably” approve the deal. 

However, Trump has yet to disclose any specific information regarding the potential buyers, saying he will wait two more weeks to publicly share their identities. 

The news comes less than two weeks after Trump issued a legally dubious executive order extending the selloff of TikTok for the third time since the U.S. Supreme Court unanimously upheld the Protecting Americans from Foreign Adversary Controlled Applications Act in January. 

The most recent executive order pushes the deadline to sell or ban the app in the U.S. another 90 days, until September 17. 

Since Trump was sworn into office earlier this year, he has issued public claims that his administration was close to finalizing deals with a handful of companies, including a promise from Vice President J.D. Vance that the White House would reach a selloff deal at the start of April, which did not materialize due to steep tariffs Trump imposed on China at the time. 

It is yet to be determined whether any of the companies or investment groups in talks with the president to buy TikTok three months ago are included in these potential new dealings. In addition, China’s willingness to approve of a selloff to an American buyer, while also allowing new ownership over TikTok’s powerful algorithm, has not been determined.

Shortly after the law was passed, TikTok challenged its constitutionality, but lost its appeal to the U.S. Supreme Court.