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President Trump is meeting with top executives and senior advisers to weigh potential investor deals that could lead to a US-based takeover of TikTok.
Some shit you should know before you read: If you’re unaware, lawmakers passed a bipartisan bill last year that was signed into law by former President Biden, giving TikTok an ultimatum: either its China-based parent company, ByteDance, must sell the app’s US operations or face a nationwide ban due to national security concerns. The law officially went into effect on January 19, just one day before President Trump began his second term. Upon taking office, Trump delayed enforcement of the ban by signing an executive order that granted ByteDance a 75-day extension to pursue a sale. That extension is now set to expire on April 5, putting renewed pressure on the company to divest or risk TikTok being shut down across the US.
What’s going on now: Just days before President Trump’s extension expires, multiple outlets — including CBS News and The Hill — reported that the president is convening a high-stakes meeting to discuss TikTok’s future. The meeting is focused on evaluating bids from potential US investors as the administration races to finalize a deal before the April 5 deadline, when ByteDance must sell TikTok’s US operations or face a nationwide ban.
Multiple investor groups and companies are vying to acquire TikTok’s US operations; they include:
Oracle & Blackstone
- Oracle, which previously attempted to partner with TikTok in 2020, is back in the picture. Known for its enterprise software and US infrastructure capabilities, Oracle could offer a national security-friendly framework.
- Blackstone, a global private equity giant, is said to be exploring a deal in collaboration with Oracle or as part of a broader investment group.
Frank McCourt Consortium
- Billionaire businessman Frank McCourt has organized a group offering $20 billion to acquire TikTok’s US platform.
- The group has enlisted Reddit co-founder Alexis Ohanian as a strategic adviser and plans to rebuild the app with blockchain technology to enhance user privacy and data control.
Jesse Tinsley Consortium
- Jesse Tinsley, founder of Employer.com, has formed another competing consortium.
- His group includes prominent tech figures like the CEO of Roblox and has reportedly submitted an offer exceeding $30 billion — the largest known bid to date.
Amazon
- In a surprise move, Amazon submitted a last-minute bid to acquire TikTok outright.
Other Interested Parties
- Former Treasury Secretary Steve Mnuchin is reportedly forming his own investment group.
- Rumble, the conservative video platform, has expressed interest in joining a tech partnership or consortium to help manage TikTok’s US operations.
Trump’s meetings today related to TikTok will also include Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
