Could a Shark Tank investor be the new owner of TikTok in the United States?
Kevin O’Leary, one of the investors on Shark Tank known for his no-nonsense approach to business, has officially joined the bid to acquire TikTok’s U.S. operations.
TikTok is on the verge of being banned in the United States due to rising national security and data privacy concerns. Lawmakers and intelligence agencies fear that the app, owned by Chinese parent company ByteDance, could be compelled to share sensitive user data with the Chinese government under Chinese law.
This has raised alarms about potential espionage, foreign influence, and the safety of personal information belonging to TikTok’s 170 million American users.
O’Leary’s potential bid comes at a time when TikTok is being pressured by the U.S. government to sever ties with ByteDance.
In an exclusive interview with Fox News, O’Leary confirmed his participation in the multi-billion-dollar bid alongside Frank McCourt, former owner of the Los Angeles Dodgers. The two have come together under the banner of “The People’s Bid for TikTok,” an initiative that aims to take control of the app’s U.S. assets and rebuild it into a platform that prioritizes the privacy and security of American users.
Kevin O’Leary on meeting with Trump: I have joined with Frank Mccourt to buy TikTok, it's a multibillion-dollar deal… I wanted to let him know as well as others in his cabinet that we’re doing this.. we’re going to need their help pic.twitter.com/gX5UKAQ0hV
— Acyn (@Acyn) January 6, 2025
O’Leary’s decision to partner with McCourt is not just about financial opportunity—it is also a strategic move to navigate the complex political landscape surrounding TikTok’s future.
The U.S. government has set a deadline of January 19 for TikTok to divest its Chinese ownership, or face a potential nationwide ban. The platform has challenged the law, arguing that it is unconstitutional.
In a key part of the bid’s strategy, O’Leary outlined the importance of working with both outgoing President Joe Biden and former President Donald Trump.
“This is a bipartisan situation,” O’Leary explained, revealing his plan to work with Biden initially and then collaborate with Trump once he takes office. He emphasized that the success of the deal would rely on political support.
Despite TikTok’s parent company ByteDance insisting it has no plans to sell, O’Leary and McCourt are undeterred. Their press release emphasized their shared belief that they can transform the platform into a safer, more secure space for users.
“We can build a better TikTok—one that protects our national security and becomes a platform that millions of people will trust,” McCourt said in a statement.
