On Sunday, President Donald Trump announced that a group of buyers for TikTok has been identified. The app is facing a potential ban in the U.S. because of its connections to China, and Trump mentioned he might reveal the buyers’ names in about two weeks.

“We have a buyer for TikTok, by the way,” Trump said during an interview on Fox’s Sunday Morning Futures with Maria Bartiromo.

“Very wealthy people,” he added, but didn’t provide any further details, promising to disclose more soon.

The president mentioned that he would likely need approval from China for the sale and expressed confidence that Chinese President Xi Jinping would agree.

TikTok is a product of the Chinese company ByteDance.

A law demanding TikTok’s sale or a ban for national security reasons was set to take effect the day before Trump’s inauguration on January 20. However, Trump, who has been vocal about his fondness for TikTok and is gearing up for the 2024 elections, paused the ban.

Earlier in June, Trump extended the deadline for the app by an additional 90 days, allowing time for a buyer outside of China to emerge before considering a ban.

Experts in technology have pointed to this situation as a key example of the escalating tech rivalry between the U.S. and China.

Despite his previous stance on a ban or divestment, Trump changed his course and asserted his support for TikTok, which has nearly two billion users globally, thinking it might have helped him win over younger voters in the previous election.

“I have a little warm spot in my heart for TikTok,” Trump shared with NBC News in early May, adding that he was open to extending the deadline further if required.

After several extensions pushing the deadline to June 19, Trump announced yet another extension.

In May, he revealed that buyers were prepared to offer ByteDance a significant sum for TikTok’s operations in the U.S.

Previously, he indicated that a deal with China would have been possible if not for conflicts surrounding his tariffs.

ByteDance has confirmed ongoing discussions with the U.S. government and stated that essential issues still need resolution and that any agreements will need approval under Chinese regulations.