President Donald Trump said a group of "very wealthy people" wants to buy the Chinese-owned TikTok social media app that is facing a ban in the United States.

It’s been about five months since a law requiring TikTok to be banned in the United States unless it was sold off by its China-based parent company, ByteDance, technically went into effect.

U.S. President Donald Trump said in an interview broadcast on Sunday that he had found a buyer for TikTok, a group of "very wealthy people" who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel's "Sunday Morning Futures with Maria Bartiromo".