As the United States government works tirelessly to ban the TikTok app, allegedly due to it being owned by China, “Shark Tank” investors Kevin O’Leary has made a whopping $20 billion IN CASH to buy the site. The app currently hosts more than 170 million users in the United States alone.
There were talks of Elon Musk buying the platform, but as of now, O’Leary is the leading contender. “It not going to get banned. I’m going to buy it. Somebody will buy it. It won’t be Meta and Google. A regulator will stop that. A syndicate will be formed. I’d like to be involved obviously,” he stated in March 2024.
“What I would do is form a bipartisan committee, an advisory committee for 18 months. go to them and say to them, how much will you let me keep of the Chinese?” O’Leary added.
🚨BREAKING: Tik Tok has confirmed it will shut down in the U.S. on January 19th. #tiktokban #tiktok
Meanwhile, Kevin O’Leary has made a $20 billion offer to buy TikTok. The announcement comes as the Supreme Court SCOTUS backed the law requiring TikTok to be banned or sold. pic.twitter.com/tDPtn9GrPZ
— AJ Huber (@Huberton) January 18, 2025
Trending Politics reports:
A bipartisan bill to ban the social network in the U.S. easily passed in both chambers of Congress last year after lawmakers raised concerns about national security, data mining and a host of additional issues if the Chinese company is allowed to operate in its current form in the United States. Particular concern has been raised due to the platform’s demographics, as it largely appeals to teenagers and young adults.
The legislation gave TikTok nine months to either divest from its Chinese parent company or be removed from U.S.-based app stores and hosting services.
ByteDance appealed the ban before the U.S. Supreme Court, though the court opted to uphold it in a ruling handed down on Friday night. “There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community,” the court said in its opinion. “But Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok’s data collection practices and relationship with a foreign adversary.”
The ban is set to take effect on Sunday. However, incoming President Trump has made it clear that he will bring the app back.