Who Wants to Buy TikTok? A Look at the Leading Contenders

Although TikTok is back online, its long-term future in the United States remains uncertain. President Donald Trump’s executive order postponing the ban provided only a temporary respite for the company.

Initially, ByteDance was completely against the idea of selling TikTok’s U.S. operations, but that stance has seemingly shifted since Trump took office. A ByteDance investor has stated that securing a deal to keep TikTok operational in the U.S. is in “everybody’s interest.”

The Wall Street Journal reports suggest that Chinese officials are also open to negotiations. Several companies and individuals have expressed interest in acquiring TikTok. Trump has previously stated that he would like to see a competitive bidding process for the app and has even suggested that the U.S. government should hold a stake in the company.

However, the specifics of any potential agreement remain unclear. The executive order granted ByteDance 75 days to reach a deal.

Companies Expressing Interest in TikTok

Oracle

According to an NPR report, Oracle is working with Trump administration officials on a plan that would place the software company, along with a group of investors, in control of TikTok’s global operations. Under this proposal, ByteDance would retain a minority stake, while Oracle would manage the app’s algorithm, data security, and software updates.

Oracle, led by Trump ally Larry Ellison, already has an existing relationship with TikTok. The company currently hosts TikTok’s U.S. user data and was central to earlier negotiations under “Project Texas,” a plan that sought to keep TikTok operational in the U.S. However, those discussions fell apart in 2022.

In 2020, Trump approved a deal for Oracle and Walmart to acquire a 20% stake in TikTok, but it never materialized. Now, Trump’s position on Oracle remains unclear. He recently told reporters that he had not discussed TikTok with Oracle, despite Ellison’s presence at the White House alongside Trump and OpenAI CEO Sam Altman for the Stargate Project announcement.

Microsoft

Microsoft is another potential contender. NPR reports that Microsoft has been involved in discussions alongside Oracle. When asked about Microsoft’s interest, Trump responded, “I would say yes.”

This isn’t Microsoft’s first attempt to acquire TikTok. The tech giant previously explored a deal in 2020 to take over the app’s U.S. operations, but those negotiations collapsed. CEO Satya Nadella later described the experience as “the strangest thing I’ve ever sort of worked on.”

Perplexity AI and Potential U.S. Government Involvement

Just before TikTok briefly went offline, AI startup Perplexity AI proposed a deal to ByteDance that would create a new entity combining Perplexity, TikTok U.S., and New Capital Partners.

Since then, Perplexity has revised its proposal. According to The Associated Press, the company is now suggesting a plan that would allow the U.S. government to own up to half of the new entity after an IPO of at least $300 billion. Under this structure, ByteDance would maintain a minority stake but would not contribute TikTok’s proprietary algorithm.

Project Liberty

Another investor group, known as Project Liberty, has also proposed acquiring TikTok. Led by investor Frank McCourt and featuring Shark Tank’s Kevin O’Leary, the group emerged as a potential buyer before the ban was implemented.

However, O’Leary has raised concerns about legal challenges. He previously told CNBC that deals involving government stakes may conflict with Supreme Court rulings. “That 50/50 deal, I would love to work with Trump on, so would every other potential buyer… But the problem with some of these ideas is they are inconsistent with the ruling of the Supreme Court,” he stated.

This week, O’Leary acknowledged the fluid nature of the situation, saying on X, “It’s clear to me now that we’re going to have to do a dance between the original owners, the founders of ByteDance itself, and interpreting the law of what Congress and the Supreme Court has upheld.”

What’s Next for TikTok?

For now, TikTok’s future remains in limbo. Although the platform is operational, it is no longer available for download in Apple’s and Google’s app stores, and further disruptions could occur if no agreement is reached.

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