A billionaire investor eager on shopping for TikTok’s US operations has advised the BBC he has been left in limbo as the newest deadline for the app’s sale looms.
The US has repeatedly delayed the date by which the platform’s Chinese language proprietor, Bytedance, should promote or be blocked for American customers.
US President Donald Trump seems poised to increase the deadline for a fifth time on Tuesday.
“We’re simply standing by and ready to see what occurs,” investor Frank McCourt advised BBC Information.
“But when the second arrives, we’re ready to maneuver ahead… we have raised the capital to purchase it – we’ll see.”
The favored short-form video app was as a result of be banned or offered within the US in January in accordance with a legislation handed by Congress in 2024.
Lawmakers stated on the time ByteDance’s hyperlinks to the Chinese language authorities threatened nationwide safety, and expressed fears Beijing may drive the corporate at hand over knowledge on US customers.
It is a concern TikTok and its house owners have all the time stated is unfounded.
The legislation was signed by President Joe Biden whereas he was nonetheless in workplace and was upheld by the Supreme Court docket in early 2025.
Trump and members of his administration have previously claimed a TikTok deal was done, and had the blessing of Chinese language President Xi Jinping.
The president has additionally stated “refined” US traders would acquire the app, together with two of his allies: Oracle chairman Larry Ellison and Dell Applied sciences’ Michael Dell.
Members of the Trump administration had indicated the deal could be formalised in a gathering between Trump and Xi in October – nonetheless it concluded with out an settlement being reached.
Neither TikTok’s Chinese language proprietor ByteDance nor Beijing have since introduced approval of a sale, regardless of Trump’s claims.
This time there are not any such claims a deal is imminent, main most analysts to conclude one other extension is inevitable.
With out naming Trump’s hand-selected traders, Mr McCourt advised the BBC he was involved “a few focus of energy and affect as a result of platforms like TikTok are very influencing”.
He’s a part of a bunch of traders together with Reddit co-founder Alexis Ohanian and Canadian investor Kevin O’Leary.
“My hope could be that no matter occurs, that it’s shut down or offered, and lands within the palms of those that adjust to the legislation,” he stated.
He stated he needs to function TikTok with none of its Chinese language know-how, together with its highly effective suggestion algorithm, and that his Undertaking Liberty has developed different know-how that could possibly be used as a substitute.
