TikTok faces a potential ban in the U.S. unless a buyer steps in before Congress’s deadline on Sunday.

In April, Congress mandated that the popular video-sharing app must divest its U.S. operations, owned by the Chinese company ByteDance, due to national security concerns. On Friday, the U.S. Supreme Court backed this law. President Joe Biden chose not to enforce the ban, leaving it to President-elect Donald Trump, who will take office on Monday.

Although Trump aimed to limit TikTok during his previous presidency, he has changed his stance, likely swayed by support from younger voters in his 2024 campaign. He has pledged to “save” TikTok, but the specifics of his plan remain ambiguous. He stated on Truth Social that a decision would be forthcoming soon, needing time to assess the situation. “Stay tuned!” he added.

On Saturday, the incoming president indicated to NBC News that he is expected to grant a 90-day reprieve from a TikTok ban when he is inaugurated.

While TikTok users in the U.S. are anxious about the platform’s future, there is still hope for a solution through potential buyers or a merger with a U.S.-based search engine.

Will the TikTok Ban Get a 90-Day Delay?

Trump anticipates that he will “most likely” implement a 90-day delay on the incoming TikTok ban upon taking office, according to his NBC News interview.

This 90-day pause would allow his administration time to seek a resolution.

“I think looking at that option is certainly viable,” Trump said during his Saturday phone interview on NBC’s “Meet the Press.” “The 90-day extension is likely to happen since it’s the right course of action. We need to analyze this carefully as it is a significant issue.”

Could TikTok Merge with Perplexity AI?

On Saturday, U.S. tech firm Perplexity AI made an offer to ByteDance to merge its search engine with TikTok U.S., as per Reuters.

This merger could create a new entity that would allow most of ByteDance’s current investors to maintain their stakes while preserving TikTok’s presence in the U.S., according to the report. The company feels that ByteDance might be more open to this merger route rather than a complete sale.

Executives at Perplexity AI believe that merging would enhance their search technology by incorporating video content with tools such as large language models from OpenAI and Meta Platforms’ open-source model Llama.

YSL News has sought comments from both ByteDance and Perplexity AI.

Who Owns TikTok?

TikTok is owned by ByteDance, a private global company based in Beijing, founded by Chinese entrepreneurs. According to TikTok, about 60% of the parent company is held by global institutional investors, 20% by the founders, and the remaining 20% by employees.

Although TikTok’s global offices are located in Los Angeles and Singapore, it is not a Chinese company since the app cannot function in China itself. Douyin, another app under ByteDance, serves as TikTok’s counterpart in mainland China.

Why Is TikTok Facing a Ban?

The potential ban on TikTok arises from U.S. officials’ fears regarding the Chinese government’s influence over the company.

The Justice Department’s primary concerns are the potential for the Chinese government to manipulate the content users see to influence public opinion and the risk of the government accessing sensitive data from millions of American app users.

Is MrBeast Buying TikTok?

YouTube sensation MrBeast, whose real name is James “Jimmy” Donaldson, posted on X earlier this week, humorously stating, “Okay fine, I’ll buy TikTok so it doesn’t get banned.” Forbes estimates that he earns about $84 million annually and later mentioned that “many billionaires have reached out” to him since making his tweet, hinting at the possibility of pulling off a purchase.

While MrBeast’s comments remain ambiguous, Frank McCourt announced that his Project Liberty initiative had put in a formal offer to ByteDance. Project Liberty President Tomicah Tillemann confirmed that the exact bid amount would not be made public, but they have secured $20 billion in verbal commitments from unnamed investors interested in acquiring TikTok.

Who Might Purchase TikTok?

Names frequently associated with potentially buying TikTok include Elon Musk, MrBeast, investor Kevin O’Leary, and Frank McCourt’s Project Liberty.

Other speculated contenders are Bobby Kotick, former CEO of Activision; Walmart CEO Doug McMillon; Microsoft; and the video-sharing service Rumble.

Is Elon Musk Interested in Buying TikTok?

Although Musk has not explicitly stated a desire to acquire TikTok, he opposed the proposed ban back in April.

“In my view, TikTok should not be banned in the U.S., even if such a ban favors the X platform,” Musk wrote in an X post. “Such an action would contradict the ideals of free speech and expression that America is known for.”

Musk, who was chosen by Trump to lead the new Department of Government Efficiency (DOGE) to reduce government spending, has previous experience in social media ownership after purchasing X (formerly Twitter) in October 2022.

Chinese authorities have mentioned Musk in discussions regarding possible collaborations with Trump’s administration related to the TikTok ban, according to Bloomberg. Musk has a history of engaging with Chinese leaders and has shown a supportive stance toward them, reported by the Wall Street Journal.

When asked about the potential for Musk purchasing TikTok, a platform representative told the WSJ, “We don’t comment on pure speculation.”

Is Frank McCourt or Kevin O’Leary Interested in Buying TikTok?

Both McCourt and O’Leary are also among the names being considered as potential buyers.

O’Leary has indicated he may be one of the investors mentioned by Project Liberty and confirmed that he is collaborating with McCourt to pursue the purchase of TikTok.

Kotick, McMillon, Rumble, and Microsoft: More Possible Buyers for TikTok

Kotick remains a notable candidate for purchasing TikTok; he has previously engaged in discussions with ByteDance founder Zhang Yiming about a possible acquisition, according to the Wall Street Journal.

Rumble expressed interest in acquiring TikTok as of March 2024, stating it was “ready to collaborate with others” in a consortium to buy the app, as reported by Forbes. Details about this offer have not been revealed by Rumble or CEO Chris Pavlovski.

Walmart and Microsoft are considering re-entering negotiations to acquire TikTok after their attempts in 2020 to purchase the U.S. operations. McMillon and Walmart joined forces with Oracle in a bid in 2020; however, an injunction from ByteDance halted Trump’s ban plans and effectively canceled the deal.

Since then, McMillon has hosted ByteDance’s founder in Bentonville, Arkansas, in 2023, as reported by The New York Post, citing sources familiar with the matter.

Contributors: Mike Snider, Greta Cross, Clare Mulroy, Maureen Groppe & Rebecca Morin