YouTube star MrBeast is the latest to join the ranks of prospective buyers, following a joint bid from former Los Angeles Dodgers owner Frank McCourt and “Shark Tank” star and investor Kevin O’Leary.
The Chinese government has also reportedly considered Elon Musk as a buyer, while Trump threw Oracle founder Larry Ellison’s name into the mix Tuesday night.
“There’s a 75-day clock,” Wedbush Securities analyst Dan Ives told The Hill, adding, “The White House knows they have 75 days to get this deal done, and TikTok is a chip on the poker table in broader U.S. negotiations.”
A law banning TikTok technically went into effect Sunday after its China-based parent company ByteDance failed to divest from the app.
However, the Biden administration declined to enforce the ban in its final days, and Trump signed an executive order Monday halting enforcement for 75 days.
With a new clock running — and the law now upheld by the Supreme Court — there seems to be greater openness to negotiations on all sides.
“I think now the environment on both sides is to get a deal done,” Ives added.
The idea of selling TikTok was virtually dead in the water during the Biden administration. TikTok and its parent company, ByteDance, repeatedly maintained any sort of divestment was not a feasible option.
The Chinese government also previously poured cold water on the idea, saying it would “firmly oppose” any forced sale of the platform.
China, however, appeared to have a change of heart earlier this week when a spokesperson for the Chinese Foreign Ministry suggested private companies can independently decide whether to sell their entities.
When asked if China is open to a deal with Trump and how this might look, Chinese Foreign Ministry spokesperson Mao Ning said, “When it comes to actions such as the operation and acquisition of business, we believe they should be independently decided by companies in accordance with market principles.”
“If it involves Chinese companies, China’s laws and regulations should be observed,” Mao added.
Trump also appears particularly keen to strike a deal, repeatedly arguing that he can negotiate a resolution to keep the app available. In recent days, he has proposed a joint venture in which the U.S. has a 50 percent stake.
Read more in a full report at TheHill.com.
