A billionaire investor seeking TikTok’s US operations says prolonged uncertainty continues as another deadline approaches. The United States has delayed the forced sale of the app several times. Officials warn the platform could face a nationwide block without an approved deal. President Donald Trump appears ready to extend the deadline again on Tuesday. This decision would mark the fifth delay since the law took effect.
Investor Frank McCourt said he and his partners remain in a holding pattern. He said they continue waiting for a clear signal from US authorities. McCourt said his group stands ready to act immediately. He added that the investors already raised the money required for a purchase. The lack of clarity, he said, prevents any forward planning.
A Law Passed, A Ban Threatened
Congress passed the legislation in 2024 and set January as the original deadline. Lawmakers said TikTok’s Chinese ownership created national security risks. They argued Beijing could pressure ByteDance to share data on American users. Officials said those risks justified drastic action. TikTok and its owners repeatedly rejected those claims. Company executives said the concerns lack evidence.
President Joe Biden signed the law before leaving office. The Supreme Court upheld the legislation in early 2025. The ruling removed the final legal barrier to enforcement. Despite that decision, the administration kept delaying implementation. Each delay increased political tension around the app.
White House Optimism Meets Silence
Trump and senior officials previously said a deal had been secured. They claimed Chinese President Xi Jinping approved the arrangement. 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 deal 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 close. Most analysts expect another extension.
Investors Voice Influence Concerns
McCourt said he worries about concentrated power in digital platforms. He said short-form video apps strongly shape public opinion. He declined to identify investors selected by the White House. McCourt works with a group that includes Alexis Ohanian and Kevin O’Leary.
He said he hopes the platform either shuts down or sells legally. He wants ownership that fully complies with US law. McCourt said his plan removes all Chinese technology. He said his Project Liberty developed alternative systems. Those systems include a replacement recommendation engine.
