TikTok has been stuck in a messy back-and-forth with the U.S. government for years now. Owned by China’s ByteDance, TikTok keeps running into accusations about user data and national security, with many American officials worried that the Chinese government could gain access to personal information.
Things got tense earlier this year when TikTok went dark for a brief moment in the U.S. Millions of users were left hanging until the app quickly popped back up on the App Store and Google Play. But the real trouble isn’t over. A potential ban is lurking around the corner, with April 5 being the date everyone’s watching.
Investors are lining up to grab a piece of TikTok if things go south. If someone buys it, TikTok’s U.S. business could hit a crazy valuation of $60 billion, according to CFRA Research.
It all started in August 2020 when Trump signed an executive order trying to cut TikTok’s ties with ByteDance. By September, the Trump administration was trying to force a sale of TikTok’s U.S. operations. Microsoft, Oracle, and Walmart all threw their hats in the ring. But, thanks to a judge’s ruling, TikTok kept going while the legal battles raged on.
Fast forward to Biden’s administration, and things started heating up again. In 2024, the U.S. House and Senate passed legislation targeting TikTok. President Biden signed the bill demanding TikTok either be sold or shut down.
TikTok fired back with a lawsuit, claiming that banning the app would violate free speech rights. They’ve always denied being a security threat and said U.S. data stays within the country’s borders.
In December 2024. Trump, who once pushed hard to ban TikTok, suddenly switched sides and argued against the ban in a court filing. By January 2025, the Supreme Court upheld the so-called TikTok ban, and TikTok went offline for a bit. Less than 12 hours later, it was back online, with Trump saying his efforts brought it back—well said!
Trump then gave TikTok another 75 days to figure things out. His proposal? A 50-50 ownership split between ByteDance and a U.S. company. Talks are already happening with various interested buyers.
Here’s a rundown of the main players looking to buy TikTok’s U.S. business
- The People’s Bid for TikTok: Spearheaded by Frank McCourt (Project Liberty founder and ex-owner of the Los Angeles Dodgers), this group is all about privacy and user control. Big names involved include Reddit co-founder Alexis Ohanian, investor Kevin O’Leary, Tim Berners-Lee (yes, the guy who invented the World Wide Web), and MIT scientist David Clark.
- American Investor Consortium: Jesse Tinsley, CEO of Employer.com, is leading this group with a $30 billion all-cash offer. Other members include Roblox CEO David Baszucki and a popular YouTuber, MrBeast.
Other Interested Companies and Investors
- Amazon, AppLovin (backed by casino mogul Steve Wynn), and Microsoft.
- Former Activision CEO Bobby Kotick.
- Oracle, which has been in the picture since 2020 and might handle TikTok’s U.S. infrastructure.
- AI startup Perplexity AI and video platform Rumble.
- Former U.S. Treasury Secretary Steven Mnuchin.
- Walmart, which has had its eye on TikTok since 2020.
- Social media startup Zoop, co-founded by OnlyFans founder Tim Stokely.
The situation remains fluid, and while no deal has been finalized yet, the next few days or weeks could significantly shape the future of TikTok in America.
