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Outcome of Kevin O'Leary's bid for TikTok US operations by Jan 19, 2025?
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Official announcements from ByteDance, Kevin O'Leary, or US government
Story
Kevin O'Leary Bids $20 Billion for TikTok's US Operations Amid Supreme Court Ban
Jan 17, 2025, 11:40 PM
Kevin O'Leary, known from 'Shark Tank,' has made a $20 billion cash offer to purchase TikTok's US operations from its Chinese parent company, ByteDance. This offer comes in response to a Supreme Court decision upholding a law that requires TikTok to be sold or face a ban in the US by midnight on January 19. O'Leary's bid aims to save the platform from going dark, as he warns that service providers could face fines of over $1 billion a day if they continue to support TikTok post-deadline. The law, passed by Congress, mandates TikTok to divest from ByteDance or be removed from US app stores, driven by national security concerns over the app's Chinese ownership. O'Leary's proposal is part of a broader effort to keep TikTok accessible to its 170 million American users.
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