Kevin O’Leary, star of Shark Tank, has announced his partnership with former Dodgers owner Frank McCourt to bid for TikTok’s U.S. operations, potentially preventing the app from facing a government-mandated ban.
The app, used by 170 million Americans monthly, is under scrutiny due to concerns over data privacy and ties to its Beijing-based parent company, ByteDance.
The push to ban TikTok, initially introduced during the Trump administration, gained momentum in April 2024 when President Biden signed legislation enforcing the sale of TikTok’s U.S. assets by January 19, 2025. U.S. lawmakers have raised concerns that Chinese law mandates ByteDance to share user data with the Chinese government, labeling TikTok a national security risk.
O’Leary revealed his ambitious plan on social media, describing the move as more than just a business deal. “This isn’t just about buying TikTok’s U.S. assets. It’s about something much bigger: protecting the privacy of 170 million American users and empowering creators and small businesses,” O’Leary stated in a tweet.
The acquisition could cost a record $300 billion, according to Wedbush Managing Director Dan Ives. Despite the high price, O’Leary remains optimistic, highlighting TikTok’s potential for economic and social impact.
O’Leary’s efforts align with The People’s Bid, a community-driven initiative under Project Liberty, a nonprofit launched by McCourt. While the deal is not yet finalized, O’Leary aims to involve President-elect Donald Trump to secure its success.
As the deadline approaches, TikTok continues to explore legal options, including an upcoming Supreme Court hearing on the law underpinning the ban.
