Trump Sees ‘Great Interest’ From Potential TikTok Buyers
President Donald Trump says a decision on TikTok’s future could come in 30 days.
Speaking to reporters Saturday (Jan. 25) on Air Force One, the president said he was in talks with multiple potential buyers for the popular video app.
“I have spoken to many people about TikTok and there is great interest in TikTok,” said Trump, whose comments were reported by Reuters.
Sources tell the news outlet that the White House is working on a plan to rescue TikTok involving software company Oracle and a group of outside investors. Under this plan, ByteDance — the Chinese company that owns TikTok — would hold its stake in the company, with Oracle overseeing data collection and software updates.
However, in his remarks to reporters, Trump said he had not spoken to Oracle’s CEO about buying the app.
“Numerous people are talking to me, very substantial people, about buying it, and I will make that decision probably over the next 30 days,” Trump said. “Congress has given 90 days. If we can save TikTok, I think it would be a good thing.”
President Joe Biden last year signed a bill that required ByteDance to find a new owner for TikTok or see the app banned in the U.S.
That ban, which was based on concerns about data privacy, content moderation and national security, was delayed last week by an executive order Trump signed after taking office.
While the future of the app remains undecided, “hope springs eternal among its fans,” as PYMNTS wrote last week. “And let’s not forget those fans are a hearty bunch. They’ve made a thriving business out of working within the platform’s constraints. And sometimes, they work outside its constraints.”
Research by PYMNTS Intelligence shows the reach of the platform’s creator, with 79% of millennials and Gen Z consumers saying they depend on social media for financial advice and Gen Z shoppers are 117% more likely to buy from influencers.
“And TikTok’s reach is undeniable. Consider the platform’s more bizarre trends, like some weird stuff involving your belly button — for health reasons — or heatstroke-inspired makeup tips,” the report continued.
“While they might seem silly, the impact of TikTok trends on consumer behavior is serious. PYMNTS research reveals that 1 in 5 retail shoppers are influenced by written content on platforms like TikTok.”
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