The law, the Protecting Americans from Foreign Adversary Controlled Applications Act, requires TikTok’s China-based parent, ByteDance, to sell the application to a U.S. company.
The Supreme Court upheld the law last Friday, and TikTok went dark in the U.S. for about 14 hours Saturday night running into Sunday. The app was restored after Trump promised that he would issue the executive order.
Other reported potential acquirers of TikTok have included Amazon, former Los Angeles Dodgers owner Frank McCourt, X owner and Tesla CEO Elon Musk, Shark Tank investor Kevin O’Leary, and Oracle, but there have been no indications that ByteDance is pursuing any of those options.