The video-sharing platform TikTok is under intense scrutiny in the U.S., with its case currently being reviewed by the Supreme Court. Amid this, several billionaires have expressed interest in buying TikTok to keep it operational in the country.
Notable investors like Kevin O’Leary from Shark Tank and billionaire Frank McCourt have shown willingness to purchase TikTok’s U.S. operations. McCourt, a former owner of the Los Angeles Dodgers, suggested that U.S. user data could be stored within American digital infrastructure if the deal goes through. McCourt’s group has even written to TikTok’s parent company, ByteDance, proposing a purchase agreement.
Kevin O’Leary has also proposed a plan to keep 20% of TikTok under Chinese ownership while operating it with a U.S.-based management team. He has indicated a willingness to collaborate with McCourt on the deal. Additionally, former U.S. Treasury Secretary Steven Mnuchin has hinted at assembling a group of investors to purchase TikTok but has not disclosed further details.
Other prominent figures, such as Bobby Kotick of Activision Blizzard and Chris Pavlovski of Rumble, have also expressed interest in acquiring TikTok. Currently, TikTok has 170 million users in the U.S., and analysts estimate that ByteDance could generate $10 billion in revenue from TikTok by 2025.
Despite the interest, ByteDance has consistently stated that selling TikTok is not an option. The Chinese government has also indicated it would not allow the sale, as noted by The New York Times. Journalist Lauren Hirsch highlighted that TikTok’s proprietary algorithm adds immense value, making its sale highly expensive. ByteDance’s valuation is estimated at $225 billion, but the specific value of TikTok’s U.S. version remains unclear.
Legal and Political Pressure on TikTok
The U.S. government has raised concerns about TikTok collecting user data and potentially sharing it with the Chinese government. In April, Congress passed legislation to ban TikTok unless ByteDance divested its U.S. operations. President Biden signed the bill into law, sparking a legal battle over its constitutionality. ByteDance and TikTok users have argued that the law violates free speech rights.
TikTok filed a lawsuit in the Supreme Court as a last effort to overturn the potential ban. During the latest hearing, the court seemed inclined toward the U.S. government’s stance, increasing the likelihood of a ban after January 19, 2025.
The platform’s uncertain future in the U.S. highlights the ongoing tension between free expression and national security. While former President Donald Trump initially pushed for TikTok’s ban in 2020, his actions were blocked by a federal judge. Trump, now running for president again, has pledged to “save TikTok,” but the platform’s fate will likely be decided before the next administration takes office.