Market
Outcome of Kevin O'Leary's bid for TikTok US operations by January 19, 2025?
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Official announcements from ByteDance, Kevin O'Leary, or major news outlets
Story
Kevin O'Leary Bids $20 Billion for TikTok to Avert US Ban Over National Security
Jan 17, 2025, 11:22 PM
Kevin O'Leary, known from 'Shark Tank,' has offered $20 billion in cash to purchase TikTok's US operations from ByteDance, its Chinese parent company. This bid comes as the social media platform faces a potential ban in the US, set to take effect on January 19, 2025, unless ByteDance agrees to sell it. The Supreme Court has upheld a federal law that requires TikTok to be sold or face a shutdown due to national security concerns. O'Leary's offer is part of an effort to keep TikTok operational in the US, with the businessman expressing excitement about the situation and warning that service providers could face significant fines if they continue to support TikTok post-ban. O'Leary's proposal is aimed at saving TikTok for its 170 million American users.
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