A billionaire investor pursuing TikTok’s US operations says uncertainty continues as the next deadline approaches. The United States has postponed the forced sale of the app multiple times. Officials warn the platform could face a ban without a finalised agreement. President Donald Trump appears ready to extend the deadline again on Tuesday. This move would mark the fifth delay since Congress passed the law.
Investor Frank McCourt said his group remains in a waiting position. He said the investors stay prepared to act immediately. McCourt said they already secured the capital required for a purchase. He added that repeated delays prevent meaningful planning. The prolonged pause, he said, keeps buyers stuck in limbo.
Security Law Drives Pressure on ByteDance
Congress passed the legislation in 2024 and set January as the original cutoff. Lawmakers argued Chinese ownership created national security risks. They warned Beijing could pressure ByteDance to hand over US user data. Officials said those concerns justified a forced sale or ban. TikTok and ByteDance repeatedly rejected the allegations. Company leaders said the claims lack evidence.
President Joe Biden signed the law before leaving office. The Supreme Court upheld the legislation in early 2025. The ruling removed remaining legal challenges. Despite that decision, the administration delayed enforcement. Each delay increased political pressure.
Deal Promises Fade After Failed Talks
Trump and senior officials previously said a deal was secured. They claimed Chinese President Xi Jinping supported the plan. Trump said experienced American investors would take control. He named Oracle chairman Larry Ellison and Dell Technologies founder Michael Dell. Officials said leaders would finalise the agreement during an October meeting.
That meeting ended without an agreement. ByteDance never confirmed approval of a sale. Chinese authorities also issued no confirmation. Officials now avoid claiming a deal is near. Most analysts expect another extension.
Investors Warn of Platform Influence
McCourt said concentrated power in digital platforms concerns him. He said apps like TikTok strongly influence public debate. He declined to identify investors backed by the White House. McCourt works with a group including Alexis Ohanian and Kevin O’Leary.
He said he hopes the platform either shuts down or sells legally. He wants owners who fully comply with US law. McCourt said his plan removes all Chinese technology. He said Project Liberty developed alternative systems. Those systems include a replacement recommendation engine.
