“Shark Tank” investor Kevin O’Leary has expressed interest in acquiring TikTok to keep the popular platform operating in the U.S. ahead of a federal ban scheduled to take effect on Jan. 19. Partnering with former Los Angeles Dodgers owner Frank McCourt, O’Leary says the purchase is about creating a secure, American-owned platform while addressing privacy concerns.
During an appearance on The Story with Martha MacCallum on Fox News, O’Leary discussed the challenges of the acquisition and the role President-elect Donald Trump might play. “Trump will be who we have to work with to close the deal in the months ahead,” he said. “I wanted to let him know, as well as others in his cabinet, that we’re doing this, and we’re going to need their help.”
In a tweet, O’Leary shared his excitement for the collaboration with McCourt’s Project Liberty. “This isn’t just about buying TikTok’s U.S. assets. It’s about protecting the privacy of 170 million American users, empowering creators and small businesses, and building a platform that prioritizes people over algorithms,” he wrote.
TikTok, owned by Chinese tech firm ByteDance, is facing a potential ban due to national security concerns over data privacy. A U.S.-based ownership could allow the platform to remain accessible to its millions of American users and avoid removal from app stores.
McCourt echoed O’Leary’s goals in a press release, stating, “We believe we can build a better TikTok – one that protects our national security and becomes a safe, secure platform for millions of users. We look forward to working with President-elect Trump to save TikTok.”
O’Leary emphasized that the bid, referred to as “The People’s Bid,” is focused on ensuring privacy while fostering creativity and business growth. “TikTok has immense potential, not just as a tool for creators but as a driver of meaningful economic and social impact,” he added.
