Trump says he has group of ‘very wealthy people' lined up to buy TikTok after pushing back ban of social media app
Click to share on X/Twitter (Opens in new window)
Click to share on Facebook (Opens in new window)
DONALD Trump said he has a group of "very wealthy people" lined up to buy TikTok.
The President has repeatedly delayed a ban blocking the app to allow more time for negotiations with the Chinese owners - who have consistently refused to sell.
4
Donald Trump said he has potential buyers of TikTok waiting in the wings
Credit: AFP
4
TikTok was temporarily disabled on US devices in January
Credit: Getty
4
TikTok CEO Shou Zi Chew has argued the sale to American owners is not necessary
Credit: AFP
Trump has fought to force TikTok's owners to sell to an American party since his first term.
A bill signed last year makes it illegal to operate under the current Chinese owners, but the ban has been delayed three times and the company has always refused to sell.
However, on Sunday, Trump told Fox News a "group of very wealthy people" wanted to purchase the app from ByteDance.
He said: 'I think I will need China['s] approval, and I think President Xi will probably do it."
Without revealing any details, he added: 'I'll tell you in about two weeks.'
The closest to Trump has come to barring American users from TikTok was at the time of his inauguration in January this year.
A ban took effect on January 19, and TikTok shut itself down an hour before that, telling users "you can't use TikTok for now" due to a "law banning TikTok".
But around 12 hours later it came back online after conversations between the US and China behind the scenes - and was available for download again three weeks later.
Since then, Trump has delayed the ban three times - twice for 75 days and most recently by 90 days on June 17.
The eventual ban or sale is required by a "foreign adversary" bill signed in March 2024.
ByteDance challenged the Act, but it was upheld by the Supreme Court in January.
Trump rips critics & insists 'bombs went through like butter' at Iran sites
It's not clear how much TikTok would sell for, with valuations ranging from $30billion to $300billion.
Rumoured new American owners have included major tech companies like Microsoft and Oracle.
The wildly popular YouTuber Mr Beast, real name Jimmy Donaldson, said in January he would submit an official offer for TikTok through and investment group led by Jesse Tinsley.
Steve Mnuchin, Trump's treasury secretary during his first term in office, also floated the idea of purchasing the app with a group of billionaire investors when the ban was first passed.
Amazon reportedly made a last-minute bid to purchase TikTok three days before the second recent extension in April.
The bill banning continued Chinese ownership of TikTok cites concerns about national security risks.
ByteDance was initially given nine months to sell-up - and that expired in January.
However, the company has repeatedly insisted it will not give-up the app.
It said in April: "ByteDance doesn't have any plans to sell TikTok."
Reports circulated that it was considering a sale of the app without the key algorithm, but these were denied.
The owners insisted: "Foreign media reports of ByteDance selling TikTok are not true."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
43 minutes ago
- Reuters
Oil falls on prospect of more OPEC+ supply, easing risks in Mideast
SINGAPORE, June 30 (Reuters) - Oil prices fell 1% on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August boosted the supply outlook. Brent crude futures fell 66 cents, or 0.97%, to $67.11 a barrel by 0031 GMT, ahead of the August contract's expiry later on Monday. The more active September contract was at $65.97, down 83 cents. U.S. West Texas Intermediate crude dropped 94 cents, or 1.43%, to $64.58 a barrel. Last week, both benchmarks posted their biggest weekly decline since March 2023, but they are set to finish higher in June with a second consecutive monthly gain of more than 5%. A 12-day war that started with Israel targeting Iran's nuclear facilities on June 13 caused Brent prices to surge above $80 a barrel after the U.S. bombed Iran's nuclear facilities and then slump to $67 after President Donald Trump announced an Iran-Israel ceasefire. The market has stripped out most of the geopolitical risk premium built into the price following the Iran-Israel ceasefire, IG markets analyst Tony Sycamore said in a note. Further weighing on the market, four delegates from OPEC+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following similar-size output increases for May, June and July. OPEC+ is set to meet on July 6 and this would be the fifth monthly increase since the group started unwinding production cuts in April. In the U.S., the number of operating oil rigs, an indicator of future output, fell by six to 432 last week, the lowest level since October 2021, Baker Hughes said.
The Guardian
an hour ago
- The Guardian
Trump threatens to cut off New York City funds if Mamdani ‘doesn't behave'
Donald Trump on Sunday threatened to cut New York City off from federal funds if favored mayoral candidate Zohran Mamdani, a democratic socialist, 'doesn't behave himself' should he be elected. Mamdani, meanwhile, denied that he was – as the president said – a communist. But he reaffirmed his commitment to raise taxes on the wealthiest New Yorkers while saying: 'I don't think that we should have billionaires.' In an interview with Fox News host Maria Bartiromo, Trump argued that a Mamdani victory was 'inconceivable' because he perceived the candidate to be 'a pure communist'. He added: 'Let's say this – if he does get in, I'm going to be president, and he's going to have to do the right thing, or they're not getting any money. He's got to do the right thing or they're not getting any money.' More than $100bn flows to the city from the federal government through different entities and programs, according to the city's comptroller last year. Speaking Sunday with NBC's Meet the Press on Sunday, Mamdani said, 'no, I am not' a communist. He also said that he had 'already had to start to get used to the fact that the president will talk about how I look, how I sound, where I'm from, who I am – ultimately because he wants to distract from what I'm fighting for'. Mamdani said he was inspired by the US civil rights activist Martin Luther King Jr, who once remarked: 'Call it democracy or call it democratic socialism. There has to be a better distribution of wealth for all of God's children in this country.' He then reiterated his intent to raise taxes on New York's wealthiest as part of a campaign pledge 'to shift the tax burden from overtaxed homeowners in the outer boroughs to more expensive homes in richer and whiter neighborhoods'. 'I don't think that we should have billionaires because, frankly, it is so much money in a moment of such inequality – and ultimately what we need more of is equality across our city and across our state and across our country,' Mamdani said. 'And I look forward to work with everyone, including billionaires, to make a city that is fairer for all of them.' Mamdani said the proposal reflected 'a description of what we see right now'. 'It's not driven by race,' he said. 'It's more of an assessment of what neighborhoods are being undertaxed versus overtaxed. 'It is not to work backwards from a racial assessment of neighborhoods or our city. Rather, it's to ensure that we actually have an equal playing field.' Many New Yorkers and moderate Democratic politicians have expressed concern over Mamdani's win over former governor Andrew Cuomo in the 24 June primary for the Democratic nomination. Among those to endorse him was progressive congresswoman Alexandria Ocasio-Cortez. But he has not been endorsed by many other prominent Democratic party figures, including the New York governor, Kathy Hochul, who said coolly after his win: 'Obviously, there's areas of difference in our positions, but I also think we need to have those conversations.' Mamdani said on Sunday that he was looking forward to discussions with Hochul, saying: 'Ultimately, my policies, my vision, it's driven by an assessment of what's actually happening.' Asked if he thought moderate Democrats were afraid of him, Mamdani said: 'I think that people are catching up to this election. 'Ultimately what we're showing is that by putting working people first, by returning to the roots of the Democratic party, we actually have a path out of this moment where we're facing authoritarianism in Washington DC' under the Trump administration. In his comments on Mamdani's having secured the Democrats' nomination in the heavily Democratic city, Trump said: 'It's shocking.' 'I used to say we will never have a socialist in this country,' the president said, in part. Asked about Mamdani's proposals to oppose his administration's immigration crackdown and to arrest Israeli prime minister Benjamin Netanyahu if he sets foot in New York, Trump said the mayoral candidate would 'be very unsuccessful' on both counts. 'He's a radical left lunatic,' Trump said. Mamdani, for his part, said Democrats 'need to be a party that's not just against Donald Trump – but also for something'. 'And our campaign was for working people, bringing dignity back into those lives,' Mamdani said.
Daily Mail
an hour ago
- Daily Mail
Iran could restart enriching uranium again in a 'matter of months', UN's nuclear weapons watchdog chief warns
Iran could start enriching uranium again in 'a matter of months', the UN's nuclear watchdog chief has warned. Rafael Grossi, head of the International Atomic Energy Agency, said US air strikes on three Iranian nuclear facilities had caused severe but 'not total' damage. His remarks cast doubt on President Donald Trump 's claim that the sites were 'totally obliterated' by the 'bunker-busting' bomb and missile strikes. Mr Trump said on Friday that he would consider bombing Iran again if intelligence concluded the country could enrich uranium to concerning levels. Mr Grossi said yesterday: 'Frankly speaking, one cannot claim that everything has disappeared and there is nothing there. 'The capacities they have are there. They can have, you know, in a matter of months, I would say, a few cascades of centrifuges spinning and producing enriched uranium, or less than that.' Asked about reports of Iran moving its stock of enriched uranium ahead of the US strikes, Mr Grossi said it was not clear where that material was. 'Some could have been destroyed as part of the attack, but some could have been moved,' he added. Mr Trump (pictured last Tuesday) said on Friday that he would consider bombing Iran again if intelligence concluded the country could enrich uranium to concerning levels. Iran and Israel agreed to a ceasefire in their 12-day war last Monday. Asked if Iran could still be in a position to 'sprint towards a bomb' if it wanted to, Mr Grossi said: 'Iran had a very vast ambitious program, and part of it may still be there, and if not, there is also the self-evident truth that the knowledge is there. The industrial capacity is there. 'Iran is a very sophisticated country in terms of nuclear technology.' Last week, a leaked Pentagon preliminary assessment estimated the attacks aimed at preventing Iran from developing an atomic weapon had set the country's nuclear programme back 'only a few months'.
