US President Donald Trump has expressed his readiness to protect the widely-used short-video platform TikTok from another possible ban. TikTok was temporarily taken offline in the US due to a bipartisan law known as the Protecting Americans from Foreign Adversary Controlled Applications Act. After taking office, Trump granted the app a 75-day extension to comply with the law through an executive order. This legislation requires TikTok to sever its ties with its Chinese parent company, ByteDance, or face a ban in the US. During the extension granted in January, Trump suggested a potential joint venture involving TikTok’s current and future partners, with the US government potentially acquiring a 50% stake, possibly through a sovereign wealth fund.
In a media briefing on Thursday, Trump mentioned that there is significant interest in acquiring TikTok and indicated that an extension might not be necessary, given that there is still a month remaining until the deadline. “If I needed an extension, I’d probably get it extended,” he stated.
Trump has reportedly assigned the task of facilitating a potential sale of TikTok to Vice President JD Vance and National Security Advisor Michael Walz. Omnivest Financial CEO Reid Rasner emerged as a potential buyer, revealing to NBC that the Trump administration has reviewed his bid and that he is “prepared to move forward” with the offer. “There’s no holding back. The money isn’t the issue right now; bringing all the pieces together is the issue,” the billionaire noted. Rasner also mentioned that his team has made the necessary adjustments recommended by the Trump administration to ensure that the deal aligns with national security and economic interests.
Additionally, Perplexity AI CEO Aravind Srinivas has confirmed his bid for a joint venture with TikTok. Other companies interested in acquiring a stake in TikTok include Microsoft and Oracle. In a related development, TikTok’s parent company ByteDance is reportedly offering to buy back shares at a higher valuation than six months ago, according to a Reuters report. ByteDance has informed its US-based employees that it is offering $189.90 per share, which would value the company at approximately $315 billion.
