President Donald Trump has announced that a deal over TikTok’s ownership in the United States will be reached before the April 5 deadline, marking the final chapter in the long-running saga over the embattled social media platform.

Speaking to reporters aboard Air Force One late Sunday, Trump assured that discussions were progressing toward an agreement that would see TikTok sold to a non-Chinese buyer, allowing it to continue operating in the country.

“We have a lot of potential buyers,” Trump said, emphasizing that “there’s tremendous interest in TikTok.” He reaffirmed his stance that the app should remain available to American users but under new ownership.

TikTok’s Chinese parent company, ByteDance, has seen pressure to divest its U.S. operations intensified following the passage of the Protecting Americans from Foreign Adversary Controlled Applications Act in 2024. The law, which received overwhelming bipartisan support, gave ByteDance until January 19, 2025, to sell TikTok or face an outright ban. The law was enacted due to concerns that TikTok’s Chinese ownership could make it a tool for Beijing to conduct data collection on Americans and influence U.S. politics.

With ByteDance failing to secure a buyer before the original January deadline, TikTok temporarily shut down in the United States late last year, causing widespread backlash among its 170 million American users. However, the app reinstated its operation after Trump intervened, extending the deadline to April 5, allowing more time for a deal to be finalized. Now, with just days remaining, the White House is heavily involved in ensuring a resolution, essentially acting as the lead negotiator in brokering TikTok’s future.

A Forced Sale With No Alternative for TikTok

TikTok’s precarious position in the U.S. leaves ByteDance with virtually no bargaining power. Unlike in previous legal battles, where the company managed to delay regulatory actions, it now faces a clear-cut choice: sell or shut down.

Washington has maintained that ByteDance’s ownership of TikTok poses a national security risk, with lawmakers and intelligence agencies warning that the app could be exploited by the Chinese government for surveillance or information warfare. The 2024 law was specifically designed to close any legal loopholes that TikTok might use to evade compliance. With no legal recourse left, ByteDance must now accept a deal, no matter how unfavorable.

Trump has also clarified that China’s approval will be necessary for any agreement, hinting last week that he might offer Beijing certain trade incentives to facilitate the sale. “Maybe I’ll give them a little reduction in tariffs or something to get it done,” he said. This underscores the broader geopolitical significance of the TikTok deal, which has become yet another flashpoint in U.S.-China tensions.

Who Will Buy TikTok?

Several U.S.-based investment groups have emerged as frontrunners in the race to acquire TikTok’s American operations. The most prominent is a consortium of ByteDance’s existing non-Chinese investors, led by Susquehanna International Group and General Atlantic, which has been in talks to inject fresh capital into the bid. Private equity giant Blackstone is also reportedly exploring a minority stake in the company.

The U.S. government has taken an unprecedented level of involvement in these negotiations, with the White House directly overseeing discussions to ensure compliance with national security concerns. Trump’s administration has effectively positioned itself as the final arbiter of TikTok’s fate, wielding immense influence over which buyers will be deemed acceptable.

The temporary shutdown of TikTok late last year was a dramatic moment in the ongoing battle over the platform. Influencers, businesses, and content creators who relied on the platform for their livelihoods were suddenly cut off.

The shutdown also ignited a fierce debate over internet freedom and government overreach, with critics arguing that banning a platform so deeply embedded in American social culture set a dangerous precedent. However, the White House maintained that national security concerns took precedence, with Trump making it clear that only a change in ownership would allow TikTok to resume operations.

The extension to April 5, granted by Trump, who has hinted at the possibility of further extending the deadline, gave ByteDance a lifeline. But with the new deadline now just days away, pressure is mounting on the company to finalize a sale or risk being permanently ousted from the American market.

A Global Tech Battle

The forced divestment of TikTok marks one of the most significant cases of U.S. government intervention in the tech industry. If the sale goes through, it will set a powerful precedent for how the U.S. handles foreign-owned digital platforms, potentially reshaping the global regulatory landscape for social media and data privacy.

At the same time, the saga underscores the deteriorating relationship between Washington and Beijing. China has repeatedly criticized the U.S. over its handling of TikTok, viewing the forced sale as an attack on its technological influence. The outcome of this deal is expected to have lasting repercussions for future Chinese investments in American markets.

For the first time in history, Africa’s billionaires have collectively amassed a fortune exceeding $100 billion, with their combined net worth reaching $105 billion, according to Forbes’ 2025 rankings.

The new milestone represents a significant increase from $82.4 billion in 2024, marking a major moment for Africa’s wealthiest individuals. The surge in fortunes underlines the business growth of Africa’s ultra-rich, particularly in industries like energy, consumer goods, banking, and real estate, which have benefited from rising equity markets and currency gains.

Dangote Retains Top Spot as Refinery Boosts Fortune

Nigeria’s Aliko Dangote continues his reign as Africa’s richest person for the 14th consecutive year, with his net worth surging to $23.9 billion, up from $13.9 billion in 2024. The sharp increase is attributed to his long-awaited refinery project near Lagos, which finally began operations in early 2024 after years of setbacks.

Speaking to Forbes in February, Dangote described the refinery as a pivotal step in ensuring that Africa refines its own crude oil, thereby creating wealth and prosperity for its vast population. The refinery’s successful launch has positioned Nigeria to begin exporting refined petroleum products, a historic shift for the continent’s largest oil producer, which has long been dependent on fuel imports. The development has not only increased Dangote’s personal wealth but has also boosted investor confidence in Nigeria’s industrial and energy sectors.

South Africa, Egypt, and Nigeria Dominate the Billionaire Rankings

South Africa leads the continent in billionaire representation, with seven individuals making the list. Nigeria and Egypt follow with four billionaires each, while Morocco boasts three. Other countries represented include Algeria, Tanzania, and Zimbabwe. South African luxury goods magnate Johann Rupert, owner of Richemont, remains Africa’s second-richest individual, with a net worth of $14 billion, marking a 39 percent increase from 2024. His growth is second only to Dangote’s, reflecting strong global demand for luxury brands.

Meanwhile, Nigeria’s Femi Otedola, chairman of Geregu Power Plc, saw his fortune rise by over 30 percent to $1.5 billion, driven by a 40 percent surge in Geregu Power’s stock price amid rising energy demand. Despite these gains, Africa’s billionaire list remains dominated by a small group of individuals, with few new entrants. In contrast, Asia and the U.S. add dozens of new billionaires each year, underscoring Africa’s slow pace of wealth creation.

This year’s rankings saw the return of two former billionaires who had previously dropped off the list. Moroccan real estate mogul Anas Sefrioui reentered the rankings following a major surge in shares of his real estate company, Douja Promotion Groupe Addoha. South African investor Jannie Mouton also made a comeback after a 59 percent jump in Capitec Bank Holdings’ stock price, reflecting renewed investor confidence in South Africa’s banking sector.

However, not all billionaires saw gains. Zimbabwe’s Strive Masiyiwa suffered the biggest decline, losing a third of his wealth due to Zimbabwe’s shift from the Zimbabwe dollar to the gold-backed ZiG currency. His net worth now stands at $1.2 billion, a sharp drop that highlights the instability of African financial systems.

Africa’s Billionaires Lag Behind Global Peers

While the Forbes rankings show that African billionaires are growing richer, the continent as a whole continues to struggle to produce new ultra-wealthy individuals. The rankings, based on publicly available financial data, including stock prices and currency exchange rates as of March 7, 2025, show that global billionaire wealth has risen by 22 percent over the past year.

Africa continues to fall significantly behind other regions in billionaire representation, highlighting the continent’s economic challenges.

While Africa’s wealthiest individuals have seen substantial gains, the total number of billionaires on the continent remains disproportionately low compared to other regions. The United States leads the world with 870 billionaires, whose combined wealth exceeds $5.5 trillion. Asia follows with 951 billionaires, reflecting the region’s booming economies, particularly in China, India, and Southeast Asia. Europe ranks third, with 536 billionaires, largely due to its well-established financial markets and industrial giants. In stark contrast, Africa has only a little over 20 billionaires, exposing the continent’s struggles in wealth creation and economic growth.

Africa’s underperformance in the global billionaire index is a direct reflection of the continent’s economic strength—or lack thereof. Unlike the U.S. and Asia, where billionaires emerge from technology, finance, and advanced manufacturing, Africa’s wealth remains heavily concentrated in traditional sectors like oil, commodities, and retail. The continent’s inability to diversify its economy, attract major tech investments, and develop strong financial markets has kept its billionaire count alarmingly low.

Moreover, Africa’s economic trajectory is deeply tied to governance and leadership. While countries like China, India, and Brazil have implemented pro-business policies, industrialization strategies, and financial reforms, many African nations continue to struggle with corruption, weak institutions, and regulatory hurdles that stifle large-scale wealth creation. The few billionaires that exist on the continent often have close ties to governments or operate in monopolistic industries, making it difficult for new entrepreneurs to amass significant wealth.