A billionaire investor eager on shopping for TikTok’s US operations has instructed the BBC he has been left in limbo as the most recent 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 instructed 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 consequence of be banned or offered within the US in January in accordance with a legislation handed by Congress in 2024.
Lawmakers mentioned on the time ByteDance’s hyperlinks to the Chinese language authorities threatened nationwide safety, and expressed fears Beijing may drive the corporate handy over information on US customers.
It is a concern TikTok and its homeowners have at all times mentioned is unfounded.
The legislation was signed by President Joe Biden whereas he was nonetheless in workplace and was upheld by the Supreme Courtroom in early 2025.
Trump and members of his administration have beforehand claimed a TikTok deal was carried out, and had the blessing of Chinese language President Xi Jinping.
The president has additionally mentioned “subtle” US traders would purchase 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 instructed 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 gaggle 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 fingers of those who adjust to the legislation,” he mentioned.
He mentioned he desires to function TikTok with none of its Chinese language expertise, together with its highly effective advice algorithm, and that his Undertaking Liberty has developed different expertise that may very well be used as a substitute.
