‘Classic Trump style’: US President teases new TikTok buyer amid looming ban
Trump Teases TikTok Rescue by “Wealthy Group” as GOP Splits Over Immigration Mega-Bill
As former President Donald Trump continues to dominate headlines, his latest move involves a high-stakes twist in the ongoing TikTok saga. Speaking cryptically during a recent press appearance, Trump revealed that he’s “found a very wealthy group of people” to buy TikTok, potentially rescuing the wildly popular social media platform from a looming U.S. ban. The revelation came with classic Trump flair—vague, dramatic, and ending with a familiar promise: “I’ll announce more in two weeks.”
TikTok’s Uncertain Future
The United States government has been circling TikTok for over two years, concerned about the app’s Chinese ownership and its potential national security risks. At the center of the controversy is ByteDance, TikTok’s Chinese parent company, and its ties to the Chinese Communist Party (CCP). American lawmakers across party lines have cited the risk of Chinese state surveillance, propaganda dissemination, and data harvesting from the app’s massive U.S. user base—roughly 150 million and counting.
Trump was one of the first political figures to take a hardline stance against TikTok, even attempting to ban it during his first term. But instead of immediately banning the app this time around, Trump has opted for a carrot-and-stick approach: postponing the ban every 90 days while dangling the hope of a U.S.-based takeover.
And now, he says, that takeover may finally be within reach.
Who’s Behind the Deal?
Though Trump has yet to publicly name the buyers, a few major players have surfaced in recent months as possible candidates:
Kevin O’Leary, the celebrity investor from Shark Tank, has been assembling a consortium of institutional and individual investors. His group is the only one so far to have made a public offer to purchase TikTok’s U.S. operations.
Steve Mnuchin, Trump’s former Treasury Secretary, has reportedly shown serious interest. As a billionaire with deep political and financial ties, he’s seen as a strong contender.
Elon Musk, Trump’s on-again, off-again ally, has also hinted at interest. But given his recent social media feud with Trump and his scathing criticism of Trump’s immigration bill, his involvement remains unlikely.
Larry Ellison, the founder of Oracle, previously attempted to buy a stake in TikTok during the original 2020 saga. Oracle was even selected as a “trusted technology partner” by TikTok at the time, before the deal fell through.
But the biggest obstacle to any deal isn’t just cash—it’s China.
The “Golden Share” Problem
The Chinese government has what’s known as a “golden share” in ByteDance. That means the CCP holds special veto power over major corporate decisions, including foreign divestitures. In essence, even if Trump or any U.S.-based investor assembles the perfect buyer group, the Chinese Communist Party can still say no.
That’s why Trump’s next move is being closely watched—not just in Washington, but in Beijing.
He’s reportedly trying to broker a deal that’s palatable to both U.S. regulators and Chinese leadership. That’s no easy task, especially amid heightened U.S.-China tensions. But if anyone is willing to gamble on that geopolitical tightrope, it’s Trump.
Elon Musk Turns on Trump Over “Big Beautiful Bill”
Meanwhile, as Trump celebrates his post-Supreme Court victory streak and advances his immigration enforcement agenda, one of his former allies is loudly breaking ranks: Elon Musk.
The billionaire Tesla and SpaceX CEO took to his platform X (formerly Twitter) to eviscerate Trump’s new immigration package—dubbed the “big beautiful bill” by supporters—as “utterly insane,” “destructive,” and a “job-killer.”
Musk’s primary concern? That the bill, passed via a fast-tracked reconciliation process, doesn’t go far enough in cutting government spending. “This will destroy millions of jobs in America and cause immense strategic harm to our country,” Musk warned over the weekend.
This marks one of the most public fractures in the Trump-Musk relationship since their alliance during the 2020 election and early pandemic.
Immigration Bill Passes—But Barely
Despite internal GOP criticism, the immigration bill did make it through the Senate using budget reconciliation—a rare and controversial process that allows legislation to pass with just a simple majority, avoiding the typical 60-vote threshold.
The decision to use reconciliation was strategic. Given the razor-thin partisan split in Congress, it was likely the only viable way to push through Trump’s top immigration priorities without Democrat support.
The bill includes:
Historic levels of funding for border security, ICE, and deportation infrastructure
Expansion of the wall, including technological surveillance tools and physical barriers
Hiring surges for ICE agents and Border Patrol officers
Streamlined deportation processes and fewer legal barriers for removals
Trump’s critics, including Musk, argue the bill is a financial time bomb that prioritizes enforcement over meaningful reform or fiscal responsibility.
But Trump’s defenders say it’s a necessary measure to restore order at the border and deliver on campaign promises.
Balancing Tax Cuts and Enforcement
The bill also includes modest tax cuts, aimed at offsetting the political hit from increased immigration spending. Trump advisers say it’s a calculated trade-off: not everyone gets what they want, but the bill achieves the most important objectives.
Kosha Patel, a political analyst familiar with the legislative process, summarized it well: “Life is about trade-offs. Trump is choosing immigration enforcement over deeper spending cuts. Not ideal for fiscal conservatives, but a clear win for his base.”
What’s Next?
In the coming weeks, all eyes will be on two major flashpoints:
Will Trump reveal the mysterious TikTok buyer group? And if so, will China allow the deal to happen—or block it outright with their golden share?
Will Elon Musk’s rebellion fracture GOP unity? If more conservative donors and influencers join his criticism of the immigration bill, Trump could face pushback not just from Democrats, but from within his own political machine.
For now, Trump is riding high off legal victories, legislative wins, and headline-grabbing announcements. But the landscape is shifting fast, and as always with Trump, the next twist is just two weeks away.
Key Takeaway:
Trump is balancing geopolitics, immigration enforcement, and digital regulation—all while managing internal GOP criticism and rekindling his rivalry with Elon Musk. The TikTok deal could be a defining move, but whether it’s a rescue or a rupture remains to be seen.