Shark Tank’s Kevin O’Leary Unveils Bid to Acquire TikTok

Kevin O’Leary, an investor in “Shark Tank,” has expressed interest in acquiring TikTok in order to maintain the platform’s popularity in the United States prior to a federal prohibition that is set to take effect on January 19. According to O’Leary, the acquisition is intended to resolve privacy concerns and establish a secure, American-owned platform in collaboration with Frank McCourt, the former owner of the Los Angeles Dodgers.

O’Leary addressed the acquisition’s obstacles and the potential influence of President-elect Donald Trump during an appearance on The Story with Martha MacCallum on Fox News. “Trump will be the individual with whom we must collaborate in order to finalize the agreement in the months ahead,” he stated. “I wanted to inform him and the other members of his cabinet that we are undertaking this activity and will require their assistance.”

O’Leary expressed his enthusiasm for the partnership with McCourt’s Project Liberty in a tweet. “This is not solely about the acquisition of TikTok’s U.S. assets.” He wrote, “It is about safeguarding the privacy of 170 million American users, empowering creators and small businesses, and establishing a platform that prioritizes people over algorithms.”

TikTok, which is owned by the Chinese technology company ByteDance, is at risk of being banned as a result of national security concerns regarding data privacy. The platform could maintain its accessibility to its millions of American users and prevent being removed from app stores by being owned by a company based in the United States.

In a press release, McCourt reiterated O’Leary’s objectives, asserting, “We are confident that we can construct a superior TikTok—one that safeguards our national security and serves as a secure platform for millions of users.” We are eager to collaborate with President-elect Trump in order to preserve TikTok.

O’Leary underscored that the proposal, which is known as “The People’s Bid,” is dedicated to the promotion of business development and creativity, as well as the protection of privacy. He further stated, “TikTok has immense potential, not only as a tool for creators but also as a catalyst for significant economic and social change.”