Shark Tank's Kevin O'Leary seeks Trump's help to buy TikTok

 

Renowned entrepreneur and “Shark Tank” star Kevin O’Leary revealed his active pursuit of TikTok’s U.S. business in an attempt to prevent the popular social media platform from being banned in the United States. During an announcement on Monday, O’Leary confirmed that discussions are advancing, signaling his intent to acquire TikTok’s U.S. operations—a move he believes could safeguard the app’s future in the country.

Currently, TikTok is facing a looming deadline of January 19, 2025, when it will be banned in the U.S. unless its parent company, Beijing-based ByteDance, divests its American operations. Amid escalating concerns over data privacy and national security, the U.S. government has been pressing ByteDance to sell TikTok to an American entity or risk losing access to one of its largest markets.

O’Leary is reportedly seeking the assistance of former President Donald Trump, who had previously advocated for stringent measures against TikTok during his administration. Trump’s vocal stance on TikTok’s national security implications and his connections in the political and business landscape could provide valuable leverage for O’Leary’s bid.

On X he further elaborated, "This isn’t just about buying TikTok’s U.S. assets. It’s about something much bigger: protecting the privacy of 170 million American users. It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms."

The acquisition of TikTok’s U.S. operations would represent a monumental shift in the platform’s ownership, allowing it to comply with U.S. government demands while potentially unlocking new growth opportunities under American ownership. However, the road ahead is fraught with challenges. Negotiations must address critical concerns, including data localization, user privacy, and the integration of TikTok’s existing infrastructure within an American business framework.

O’Leary’s involvement underscores the growing recognition of TikTok’s cultural and economic significance. With millions of active users in the U.S., the platform plays a pivotal role in digital marketing, entertainment, and social interaction. By acquiring TikTok’s U.S. operations, O’Leary aims to preserve this cultural cornerstone while addressing national security concerns.

Just to share the background, first proposed during Trump's first administration, Congress approved the TikTok ban and President Joe Biden signed it into law last April. But with the passage of time, US lawmakers are primarily concerned about TikTok as it is believed to operate as a spy app for the Chinese government. Under Chinese law, TikTok is obligated to provide user data to the Chinese government on its request.

While the exact details of O’Leary’s bid and Trump’s involvement remain undisclosed, the Shark Tank star’s efforts highlight the high stakes surrounding TikTok’s future in the U.S.