A consortium that includes Oracle Corp, Blackstone Inc, and venture capital firm Andreessen Horowitz has been identified as the prospective buyer for TikTok’s American operations, a person familiar with the matter confirmed for Bloomberg. 

This group matches U.S. President Donald Trump’s description of “a group of very wealthy people” during his recent interview on Fox News’ “Sunday Morning Futures” with Maria Bartiromo.

The potential agreement, which stalled in April amid escalating U.S.-China trade tensions, would grant new outside investors a 50% stake in TikTok’s U.S. business. ByteDance’s existing American investors would own approximately 30%, reducing the Chinese firm’s stake to just under 20%, a structure designed to meet U.S. security law requirements.

Trump has emphasized that completion of any deal remains contingent on approval from the Chinese government. “I think I will need probably China approval and I think President Xi will probably do it,” Trump stated in the interview.

White House Press Secretary Karoline Leavitt has confirmed that discussions continue “at the highest level” with China, noting the administration has issued another 90-day extension until mid-September to “continue to work out this deal.”

Background on Sale Requirement

ByteDance faces a legislated requirement to divest TikTok’s U.S. operations or face a ban over national security concerns. The company has resisted selling a business valued between $20 billion and $150 billion, depending on terms and technology included.

TikTok, which serves approximately 170 million American users, briefly went offline for 14 hours in January before Trump signed the first of three extension orders, with the latest pushing the deadline to September 17.