Kevin O'Leary Bids $20 Billion for TikTok's US Operations as ByteDance Faces Sunday Deadline

Jan 17, 2025, 08:30 PM

Kevin O'Leary, known from 'Shark Tank,' has made a $20 billion cash offer to purchase TikTok's US operations. This bid comes in response to a looming deadline set by a federal law upheld by the Supreme Court, which mandates that TikTok must be sold to a non-Chinese entity or face a ban in the US. The law, signed by President Joe Biden, aims to address national security concerns related to TikTok's Chinese ownership by ByteDance. O'Leary's proposal, formed in partnership with billionaire businessman Frank McCourt, is the only known bid at this time, and he has expressed excitement about the opportunity to acquire the app, which has 170 million US users. He has also mentioned a plan to ensure user data privacy and to potentially share revenue with users. The deadline for ByteDance to divest TikTok is Sunday, January 19th, after which the app could go dark in the US if no sale is agreed upon.