TikTok US Sale Drama: Investors Stuck as Deadline Hits Snooze Again

Investors in the United States who want to buy TikTok are facing uncertainty as the deadline for the app's sale is expected to be postponed once again. TikTok, a popular short-form video platform, is owned by ByteDance, a company based in China. The US government has expressed concerns that ByteDance's ties to the Chinese government could pose a risk to national security, especially regarding the data of American users. Because of these concerns, Congress passed a law in 2024 requiring ByteDance to sell TikTok's US operations or face a ban in the country. However, the deadline for this sale has been pushed back several times, and President Donald Trump is likely to extend it for a fifth time.

Frank McCourt, a billionaire investor interested in purchasing TikTok, told BBC News that he and his group of investors are prepared to move forward if the opportunity arises. 'We're just standing by and waiting to see what happens,' McCourt said. He explained that they have already raised the necessary funds to buy TikTok, but they are waiting for the government to make a decision. The law requiring the sale was signed by President Joe Biden and later upheld by the Supreme Court in early 2025. Lawmakers have argued that ByteDance's connection to the Chinese government could allow Beijing to access sensitive data about US users, although TikTok and ByteDance have denied these claims.

President Trump and his administration have discussed the possibility of selling TikTok to American investors, including well-known figures like Oracle chairman Larry Ellison and Dell Technologies' Michael Dell. There were expectations that a deal would be finalized during a meeting between Trump and Chinese President Xi Jinping in October, but no agreement was reached. Since then, neither ByteDance nor the Chinese government has announced approval of a sale, despite Trump's previous statements. Most analysts now believe that another extension of the deadline is likely. Frank McCourt, who is part of a group of investors including Reddit co-founder Alexis Ohanian and Canadian investor Kevin O'Leary, expressed concerns about the concentration of power and influence that platforms like TikTok can have. He hopes that if TikTok is sold or shut down, it will end up in the hands of people who comply with the law. McCourt also mentioned that he wants to operate TikTok without any Chinese technology, including its recommendation algorithm, and that his Project Liberty has developed alternative technology that could be used instead. For now, investors and users alike are waiting to see what the future holds for TikTok in the United States.