As the April 5 deadline approaches, the Trump administration is actively negotiating the future of TikTok’s U.S. operations. President Donald Trump recently disclosed that discussions are underway with four distinct groups interested in acquiring the popular video-sharing app.
In January 2025, the Supreme Court upheld a federal law mandating that ByteDance, TikTok’s China-based parent company, divest its U.S. operations or face a nationwide ban. To provide a window for negotiations, President Trump issued an executive order delaying enforcement until April 5.
Among the potential buyers is a consortium led by billionaire Frank McCourt, which recently brought on Reddit co-founder Alexis Ohanian as a strategic advisor. This group has reportedly offered $20 billion in cash for TikTok’s U.S. platform and plans to integrate blockchain technology to enhance user data control. Another consortium, organized by Jesse Tinsley, founder of Employer.com, has proposed over $30 billion for TikTok, with involvement from the CEO of Roblox.
Artificial intelligence startup Perplexity AI has also submitted a merger proposal to ByteDance, aiming to combine its business with TikTok’s U.S. operations. Additionally, former Treasury Secretary Steve Mnuchin and video platform Rumble have expressed interest, with Rumble proposing to join a consortium as a tech partner.
President Trump has indicated that the U.S. government seeks to broker a deal securing 50% control of TikTok, though specifics of this arrangement remain undisclosed. He has also suggested the possibility of extending the April 5 deadline to facilitate a successful transaction.
The outcome of these negotiations will significantly impact TikTok’s 170 million U.S. users, as well as its 7,000 employees and numerous advertisers. The administration aims to balance national security concerns with the app’s widespread popularity and economic contributions.
