Official announcement from ByteDance or Kevin O'Leary confirming the sale

Kevin O'Leary Offers $20 Billion to Buy TikTok from ByteDance Before January 19 US Ban

Jan 17, 2025, 11:38 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 looming ban on the platform, set to take effect on January 19, due to a Supreme Court decision upholding a law that requires TikTok to divest from ByteDance or face a shutdown in the US over national security concerns. O'Leary's proposal aims to save TikTok from going dark, a scenario he described as highly risky for service providers due to potential fines. The Supreme Court's ruling supports a law passed by Congress, motivated by concerns over TikTok's Chinese ownership and the potential for data misuse. O'Leary emphasized the urgency of the situation, noting that without a sale to an American entity, TikTok could cease operations in the US by midnight on January 19.