Frank McCourt, a billionaire investor interested in buying TikTok, said they are just waiting. He told the BBC that they are just waiting to see how things play out. But he added that they are ready to move if the opportunity arises.

McCourt said the necessary funds have already been raised. The decision now depends on the government's next steps.

In 2024, the US Congress passed a law that required the Chinese company ByteDance to sell its US stake in TikTok, otherwise the app would be banned in the United States.

Lawmakers alleged that ByteDance had ties to the Chinese government, which could put US users' data at risk. The law was passed citing national security concerns.

TikTok and ByteDance have denied the allegations from the beginning. They claim that user data is safe. Former President Joe Biden signed the law while in office. The law was also upheld by the US Supreme Court in early 2025.

However, in reality, the sales deadline has been postponed several times. President Donald Trump is preparing to extend the deadline for the fifth time next Tuesday, according to White House sources.

Trump had previously claimed that a deal had been reached to sell TikTok. He said it had the approval of Chinese President Xi Jinping. But that claim did not materialize.

Trump also said that "respectable" US investors would buy TikTok, including Oracle's Larry Ellison and Dell's Michael Dell.

The deal was supposed to be finalized at a meeting between Trump and Xi in October. But no deal was reached after the meeting. Neither China nor ByteDance has said it will approve the sale.

In this situation, analysts believe that the deadline will increase again because there is still no visible progress.

Frank McCourt said that platforms like TikTok are very influential. He is concerned about the power of such platforms being in limited hands.

McCourt's investment team includes Reddit co-founder Alexis Ohanian and Canadian investor Kevin O'Leary.

McCourt said he wants TikTok to be run in accordance with the law, whether it's sold or shut down.

He also said he wants to run TikTok without Chinese technology. He is particularly in favor of eliminating the controversial recommendation algorithm. He also claims that his 'Project Liberty' has developed alternative technology.

The uncertainty surrounding TikTok's future has not yet subsided. Investors are waiting amid that uncertainty.