What will happen to TikTok? A look at the potential buyers.

TikTok may be back online, but the app’s future in the United States is still far from certain. President Donald Trump’s executive order of the ban was only a temporary reprieve for the company.

While ByteDance was once resistant to the idea of selling TikTok’s US business, that seems to have changed since Trump took office. A ByteDance investor that striking a deal to keep TikTok in the US is “in everybody’s interest.” Officials in China have also suggested they are “open” to a deal, The Wall Street Journal.

A number of people and companies have signaled some interest in TikTok. Trump himself he would like to see a “bidding war” for the app and that the US government should own in the company. What an eventual deal may look like, though, is unclear. These are the offers we currently know about. Trump’s executive order gave the company 75 days to come to an agreement.

Oracle

NPR that Oracle was working with Trump Administration officials on “a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app’s global operations.” Under this arrangement, ByteDance “would retain a minority stake in the company” but Oracle would oversee “the app’s algorithm, data collection and software updates.”

Headed up by Trump pal Larry Ellison, TikTok has an existing partnership with Oracle. The cloud company TikTok’s US user data and the company was of TikTok’s original negotiations to remain operational in the US under a plan called Project Texas. (Those negotiations abruptly in 2022.)

Trump also previously for Oracle and Walmart to acquire a 20 percent stake in TikTok in 2020, when the president tried to ban the app during his first term. That deal never materialized. Now, Trump’s position on Oracle is unclear. He that Oracle was not among the “many people” with whom he had discussed a deal for TikTok. (Ellison, notably, has been at the White House in recent days. He joined Trump and OpenAI CEO Sam Altman for the announcement of the .)

Microsoft

Microsoft is reportedly also interested in playing a role in TikTok’s future, according to the same NPR story, which said Microsoft was among the “other potential investors” involved in the talks with Oracle. Trump seemingly confirmed this. When asked directly if Microsoft was interested in buying TikTok this week, Trump “I would say yes.”

As with Oracle, this isn’t the first time Microsoft has attempted to acquire the social media company. Microsoft was in talks to buy TikTok and take over its US business, but the deal . Microsoft CEO Satya Nadella later it as “the strangest thing I’ve ever sort of worked on.”

Perplexity AI (and maybe the US government)

Just before TikTok briefly went offline, Perplexity AI threw its hat into the ring, offering to ByteDance that “would “create a new entity combining Perplexity, TikTok US and New Capital Partners.”

Since then, Perplexity has reportedly tweaked its proposal. According to the , the AI company is now floating a plan that calls for the “U.S. government to own up to half of that new structure once it makes an initial public offering of at least $300 billion.” Under this plan, ByteDance would keep a minority stake in the company and “would contribute TikTok’s U.S. business without the proprietary algorithm that fuels what users see on the app.”

MrBeast

YouTuber MrBeast, also known as Jimmy Donaldson, joked about buying TikTok ahead of the initial ban. He later that “so many billionaires” had reached out to him about making an offer that he was going to try to actually pull it off.

At least one group has already his involvement, along with other “high-net-worth individuals” looking to make an “all-cash offer.” That group, led by employer.com founder Jesse Tinsley also reportedly includes Roblox CEO David Baszucki. According to Bloomberg, together they have put together “significantly” more than for a bid, though it’s not clear how seriously their offer is being considered. Bloomberg notes that there’s also a possibility that MrBeast may attach himself to other bids.

Project Liberty

Another set of investors that’s proposed a bid to buy TikTok is a group known as . Led by investor Frank McCourt, it includes of Shark Tank fame. The group initially came forward before the ban took effect. However, it’s not clear where they stand at the moment.

O’Leary previously that deals involving a government stake may not comply with the law. “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 said. “I would love to do a deal, if the law provided for it, but I don’t have the luxury of breaching the order of Congress.”

This week, he said that the deal “changes by the hour,” writing on X that iIt’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 Supreme Court has upheld.”

What’s next?

So where does all this leave TikTok? For now, the company is in the same limbo it’s been in since it was briefly . The app is still not available in Apple or Google’s app stores and it could go down again if the company is unable to reach a deal.

For now, though, it seems both the government and ByteDance are much more willing to negotiate than they have been in the past. While these are all the semi-credible plans we know about now, the situation is likely to change over the next few weeks as the various sides attempt to hammer out a viable deal. We’ll keep this post updated as new details emerge.

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