White House Plays A Direct Role In TikTok Sales, Trump Says There Are Four Negotiators

US President Donald Trump and US Vice President JD Vance played a direct role in the sale of US TikTok. (photo: x @JDVance)

JAKARTA In the ongoing sales process of TikTok, the White House played an unprecedented role. US Vice President JD Vance directly led the auction process, making Donald Trump's administration a kind of "investment bank" in this deal.

The move adds to the complexity of negotiations and shows the US government's extraordinary involvement in private business transactions.

According to Wyoming entrepreneur Reid Rasner, who is also one of the bidders, Vance's top adviser, former Chairman of the US Federal Election Commission, Sean Cooksey, has become the main contact for potential buyers. Cooksey provided input and advice regarding the proposed offer.

President Donald Trump revealed that currently four different groups are competing to acquire TikTok, which has 170 million users in the US. If its owner, ByteDance from China, fails to find a buyer from America before April 5 deadline, the app is at risk banned in the US next month.

"A lot of people want it, and it's up to me," Trump said on March 9, 2025.

While the government's involvement in private business transactions is nothing new, the White House's scale of interference in this auction is extraordinary. Richard Brigault, a government ethics expert from Columbia Law School, said that this level of engagement had never happened before.

"I've never seen anything like this before," said Brigault. "This involves the highest level of government, and it's unclear whether this company has extraordinary strategic significance."

ByteDance has yet to provide official comments, as has the White House.

Prospective TikTok Buyers

A number of large investors have shown interest in TikTok's acquisition, including:

- Susquehanna International Group (owned by billionaire Jeff Yass)- General Atlantic- Kohlberg Kravis Roberts (KKR)- Sequoia Capital

In addition, several billionaires and other entrepreneurs are also preparing offers, such as Project Liberty founder Frank McCort, who collaborated with Canadian investor Kevin O'Leary, and Alexis Ohanian, co-founder of Reddit.

Interestingly, Jimmy Donaldson, better known as MrBeast, is also reportedly in discussions to join this group of bidders.

However, even though there are many enthusiasts, there is still no clarity regarding what assets will be sold. ByteDance has not recruited an investment bank to lead this transaction, so the auction process does not run as usual.

According to Frank McCort, it is possible ByteDance prefers to close TikTok in the US rather than sell it. Beijing is also believed to have an influence in this decision, given that the TikTok algorithm is one of the most valuable technologies developed by Chinese companies.

The US government's intervention in private company transactions is nothing new. Usually, interventions occur for:

- Preventing a detrimental monopoly- Limiting foreign ownership of American companies- Saving financial companies from bankruptcy, such as when the Federal Reserve helped JPMorgan buy Bear Stearns in the 2008 crisis

However, according to Brigault, the TikTok case is different, because this application has no clear strategic interest in the US economy or security.

How Much Is TikTok Value?

TikTok's value is still a matter of debate. If including recommendation algorithms, analysts estimate the value of this app ranges from 50 billion to 100 billion US dollars. However, without the algorithm, Wedbush Securities thinks TikTok's price will drop to 40 billion to 50 billion US dollars.

ByteDance itself assesses that its company is in their latest share repurchase program with a total valuation of more than US$315 billion. Trump even said the company could be worth up to US$1 trillion.

One of the bidders, Reid Rasner, has made a $47.45 billion offer to acquire TikTok operations in the US and its algorithms. He admitted his legal team had communicated with ByteDance's lobby in Washington, company legal advisers, and the White House.

"We want to do whatever is necessary to solve this," said Rasner.

However, he declined to reveal the identities of his investors, only saying that they belonged to private equity companies.

There are a lot of sharks in the water, he added. It depicts fierce competition among bidders. "We are facing very volatile waters, and there are many parts that keep moving."

With a deadline of just a few more weeks, the future of TikTok in the US is still uncertain.

If ByteDance fails to find a buyer before April 5, the app could be banned in the US. If sold, the value of the deal depends strongly on whether the TikTok algorithm will be included or not.

The Chinese government can still thwart the deal, especially if it feels that TikTok technology has fallen into foreign hands.

When President Trump and Vice President Vance played a direct role in this process, TikTok's sales had grown into a very hot political issue in the US.