TikTok may be back online for now, but its long-term fate in the United States remains uncertain. A temporary pause on a ban, granted by President Trump’s executive order delaying enforcement, has bought the company some time—but a final resolution is still pending.

Shifting Stances and Negotiations

ByteDance, TikTok’s Chinese parent company, was once firmly against selling its U.S. operations. However, since Trump took office, that position appears to have softened. A ByteDance investor recently remarked that a deal to keep TikTok operating in the U.S. is “in everybody’s interest,” and Chinese officials have signaled they are open to a negotiation, according to reports from The Wall Street Journal. With various parties now showing interest and Trump even suggesting a “bidding war” that might include a U.S. government stake, the landscape of potential buyers is rapidly evolving. Under the current executive order, TikTok has 75 days to finalize an agreement.

Oracle’s Involvement

Among the frontrunners is Oracle. NPR reports that the tech giant is in discussions with Trump Administration officials on a proposal that would see Oracle, along with outside investors, take control of TikTok’s global operations. In this scenario, ByteDance would retain a minority share while Oracle would manage the app’s algorithm, data collection, and software updates. Oracle already has a significant relationship with TikTok—it hosts the app’s U.S. user data and was integral to earlier negotiations under a plan known as Project Texas, which ultimately collapsed in 2022. Despite previous announcements of a deal involving Oracle and Walmart acquiring a 20 percent stake in 2020, Trump’s current comments have left Oracle’s role somewhat ambiguous.

Microsoft Steps In

Microsoft has also emerged as a potential player in TikTok’s future. According to NPR, the company is among the “other potential investors” in ongoing talks with Oracle, and Trump himself confirmed Microsoft’s interest when asked directly. This isn’t Microsoft’s first foray into TikTok discussions; back in 2020, the tech giant was in negotiations to acquire TikTok’s U.S. business—a deal that fell through. Microsoft CEO Satya Nadella later described that earlier attempt as “the strangest thing I’ve ever sort of worked on.”

A Proposal from Perplexity AI (and the U.S. Government?)

In a surprising twist, AI firm Perplexity AI also entered the arena. Initially, the company proposed a merger that would create a new entity combining TikTok U.S., Perplexity AI, and New Capital Partners. However, according to the Associated Press, the proposal has since been revised. The updated plan envisions the U.S. government acquiring up to a 50 percent stake when the new entity undertakes an initial public offering valued at a minimum of $300 billion. Under this structure, ByteDance would maintain a minority position and contribute TikTok’s U.S. operations—albeit without its proprietary algorithm.

Celebrity and High-Net-Worth Interest: The MrBeast Angle

Popular YouTuber MrBeast (Jimmy Donaldson) has also weighed in on the conversation—initially joking on social media about purchasing TikTok ahead of its ban. He later mentioned that “so many billionaires” had approached him about making an offer, prompting him to consider a serious bid. Bloomberg reports that MrBeast is part of a group led by employer.com founder Jesse Tinsley, which includes high-profile figures such as Roblox CEO David Baszucki. Together, they have reportedly pooled more than $20 billion for a potential all-cash offer, although the seriousness of their bid remains to be seen.

The Project Liberty Proposal

Another potential bid comes from a consortium of investors known as Project Liberty, led by investor Frank McCourt and featuring personalities like Shark Tank’s Kevin O’Leary. Although this group initially made its move before the temporary ban took effect, its current position is less clear. O’Leary has voiced concerns that proposals involving a significant government stake could conflict with legal rulings, noting that any deal must adhere to the mandates set by Congress and the Supreme Court. “I would love to do a deal, if the law provided for it,” he told CNBC, underscoring the legal complexities that potential buyers must navigate.

What Lies Ahead?

For now, TikTok finds itself in a state of limbo. The app remains offline on both Apple’s and Google’s app stores and could face additional shutdowns if an agreement isn’t reached. However, both ByteDance and U.S. officials appear more willing to negotiate than in past standoffs. With multiple proposals on the table and negotiations expected to evolve over the coming weeks, the ultimate fate of TikTok in the U.S. remains uncertain.

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