Investor and Shark Tank star Kevin O’Leary has expressed interest in acquiring TikTok for up to $20 billion, describing it as a “legacy opportunity.”
Teaming up with a group of business leaders led by billionaire Frank McCourt Jr., O’Leary’s proposal excludes TikTok’s algorithm, focusing instead on the platform itself. “We want to make it clear that we are a buyer,” O’Leary said. “We have a valid syndicate, we’re ready to offer up to $20 billion, and we don’t need or want the algorithm.”
McCourt, founder of the internet advocacy group Project Liberty and former owner of the LA Dodgers shared optimism about the deal, “There’s an opportunity here to ensure TikTok continues operating in the U.S.,” McCourt said. “We want the platform to thrive and for its 170 million U.S. users to keep enjoying it.”
TikTok’s future in the United States is uncertain as the Supreme Court reviews a federal law requiring the app to be sold or banned by January 19 due to national security concerns. Critics argue that banning the app raises free speech issues, with Jennifer Huddleston from the Cato Institute warning it could set a troubling precedent for government interference in technology and social media.
As part of his efforts, O’Leary has met with President-elect Donald Trump, who initially pushed for a ban but has recently advocated for more time to find a buyer. Trump filed an amicus brief asking the Supreme Court to delay the law, allowing negotiations to proceed.
“Of course, I have to work with Trump, and I know he feels the same way,” O’Leary said.
Any sale would require approval from ByteDance, TikTok’s China-based parent company, which has resisted the ban and argued that a forced sale is “not commercially, technologically, or legally feasible.”
Despite this, O’Leary remains confident, saying: “Assume that if there’s an offer, we’ve found a way to get it to them.” He added, “Frank and I know the shareholders personally; we’ve known them for two years.”
