US TikTok Investors Face Uncertainty as Sale Deadline Likely to Slip Again
Potential buyers of TikTok’s US operations say they remain in a holding pattern as another deadline approaches for the app’s Chinese owner to divest or face a ban in the United States.
Frank McCourt, the billionaire investor leading one of the bidding groups, told the BBC that prospective buyers have yet to receive clarity from Washington, even as signs point to another extension of the deadline. US President Donald Trump is widely expected to delay the decision once more, marking what would be the fifth postponement.
“We’re waiting to see how this plays out,” McCourt said, adding that his group is financially ready to proceed if the opportunity arises. “If the moment comes, we’re prepared.”
Under legislation passed by Congress in 2024, TikTok was required to be sold or shut down for US users by January this year. Lawmakers backing the law argued that ByteDance’s ownership posed a national security risk, citing concerns that the Chinese government could access data belonging to American users. TikTok and ByteDance have consistently rejected those claims.
The measure was signed into law by former President Joe Biden and later upheld by the Supreme Court in early 2025, cementing the legal basis for a forced sale or ban.
Despite this, the process has repeatedly stalled. President Trump and senior officials have previously suggested that a deal was close and had the approval of Chinese President Xi Jinping. Trump has also indicated that a group of prominent US investors, including Oracle chairman Larry Ellison and Dell Technologies founder Michael Dell, would be involved.
Administration officials had earlier hinted that the sale could be finalised during talks between Trump and Xi in October, but the meeting ended without an agreement. Since then, neither ByteDance nor the Chinese government has confirmed any willingness to approve a transaction.
With no fresh signals that a breakthrough is imminent, analysts now expect another delay to be announced.
McCourt, whose investor group includes Reddit co-founder Alexis Ohanian and Canadian businessman Kevin O’Leary, said he remained uneasy about the concentration of influence wielded by platforms such as TikTok. He stressed that any outcome should comply fully with US law.
His proposal would see TikTok’s US business operated without Chinese technology, including its widely praised recommendation algorithm. McCourt said his Project Liberty initiative has alternative technology that could replace it, should a sale eventually go through.
For now, however, prospective buyers remain on standby as the fate of one of America’s most popular social media platforms continues to hang in the balance.
