TikTok’s future in US remains uncertain as Blackstone exits consortium bid

In a significant move, private equity firm Blackstone has withdrawn from a consortium bidding to invest in TikTok’s US operations.

The exit adds to growing uncertainty surrounding the fate of the ByteDance-owned short video platform amid ongoing US-China trade tensions and repeated delays in the proposed deal.

According to Reuters, the consortium, led by Susquehanna International Group and General Atlantic, both existing investors in ByteDance, TikTok’s Chinese parent company, had been seen as the leading contender to acquire TikTok’s US business.

Under the proposed structure, US-based investors were expected to hold an 80% stake in TikTok, while ByteDance would retain a minority share.

Blackstone had initially intended to take a minority position in the venture, which had the backing of President Donald Trump’s administration.

However, the timeline for the deal has been repeatedly extended, leaving potential investors uneasy.

The divestment deadline, mandated by US legislation passed in April 2024, currently requires ByteDance to sell or shut down TikTok’s US operations by January 19, 2025.

President Trump has already issued three executive orders extending the sale deadline, most recently pushing it to September 17, 2025.

These delays have sparked criticism from lawmakers, some of whom accuse the administration of downplaying national security concerns tied to Chinese ownership.

ByteDance, which earned $43 billion in revenue during the first quarter of 2025, is exploring possible restructuring or sale options to comply with US law.