TikTok Sale Heats Up as Trump and China Seek Deal

The race to acquire TikTok is intensifying, with a growing list of potential buyers emerging as President Trump and the Chinese government signal their willingness to negotiate a deal. The US has mandated the sale of TikTok's US operations, citing national security concerns, and the 75-day deadline for a divestiture is rapidly approaching.

YouTube star MrBeast is the latest to join the bidding, following a joint offer from former Los Angeles Dodgers owner Frank McCourt and "Shark Tank" investor Kevin O'Leary, as reported by The Hill.

The Chinese government is considering Elon Musk as a buyer, while Trump has suggested Oracle founder Larry Ellison could be a suitable buyer.

"There's a 75-day clock," Wedbush Securities analyst Dan Ives told The Hill. "The White House knows they have 75 days to get this deal done, and TikTok is a chip on the poker table in broader U.S. negotiations."

A law banning TikTok in the US technically went into effect on Sunday after its China-based parent company, ByteDance, failed to divest from the app. However, the Biden administration chose not to enforce the ban in its final days, and Trump issued an executive order on Monday halting enforcement for 75 days, creating a window for negotiations.

The shift towards a deal is notable given the previous resistance from both TikTok and the Chinese government to the idea of a divestiture. However, a recent statement by a spokesperson for the Chinese Foreign Ministry suggests a change in stance.

"When it comes to actions such as the operation and acquisition of business, we believe they should be independently decided by companies in accordance with market principles," said Chinese Foreign Ministry spokesperson Mao Ning. "If it involves Chinese companies, China's laws and regulations should be observed."

Trump has also indicated his eagerness to reach an agreement, repeatedly advocating for a resolution that keeps TikTok operational. He recently proposed a joint venture in which the US holds a 50 percent stake.

Several investors, including MrBeast, have formally offered to purchase TikTok. Trump has also floated Ellison and Musk as potential buyers.

"I'd like Larry to buy it too, I have the right to make a deal," Trump said, addressing Ellison during an event. "What I'm thinking of saying to somebody is buy it and give half to the United States of America and we'll give you the permit. And they'll have a great partner, the United States, and they'll have something that's actually more valuable because they have the ultimate partner and the United States will make it very worthwhile for them in terms of permits and everything else."

While Trump's proposed 50/50 partnership has attracted interest, some potential buyers have expressed concerns about its compatibility with the Supreme Court's ruling on the TikTok divestiture.

Several experts have pointed to Musk and Ellison as potential frontrunners, highlighting their existing relationships with both the Chinese government and Trump.