The law, passed last year with strong bipartisan support, originally gave ByteDance until January 19 to divest from TikTok or face a complete shutdown in the United States. Lawmakers have warned that TikTok’s connection to a China-based company poses risks to user privacy and U.S. data infrastructure.

We have a buyer for TikTok, by the way. Very wealthy people. It’s a group of wealthy people,” Trump said during an interview with Fox's Sunday Morning Futures, as reported by Bloomberg. He added that he would reveal the names of the buyers “in about two weeks.

After months of speculation and multiple bids from would-be American buyers, TikTok may finally be getting a new owner.