Kevin O’Leary Bids $20B for TikTok U.S. as Ban Looms

“Shark Tank” star Kevin O’Leary has unveiled a $20 billion offer to purchase TikTok’s U.S. operations as the platform faces a potential shutdown. The shutdown, set for midnight on Sunday, January 19, follows a Supreme Court ruling upholding a law that mandates TikTok’s U.S. assets be sold or the app banned entirely.

TikTok, owned by Chinese company ByteDance, has come under fire over national security concerns related to data privacy and alleged influence from the Chinese government. While TikTok’s U.S. operations are valued at approximately $50 billion, O’Leary’s bid offers a steep discount, reflecting the sale’s urgency and complexities.

O’Leary, known for his investment savvy and role on “Shark Tank,” has partnered with businessman Frank McCourt under the initiative “The People’s Bid for TikTok.” Their proposal aims to create a U.S.-owned version of TikTok, prioritizing user privacy and compliance with American data protection laws. The duo plans to re-engineer TikTok’s algorithms to remove ties to ByteDance, ensuring operational integrity while retaining the platform’s core functionality.

The Supreme Court’s decision has left ByteDance with little time to negotiate. Without a resolution by Sunday, TikTok would be forced to cease operations in the U.S., disrupting its 170 million users, countless small businesses, and content creators who depend on the app for income and community engagement.

Critics argue O’Leary’s bid undervalues TikTok’s U.S. market potential, but proponents view it as a practical solution to save the platform. The deal is also seen as a safeguard for the jobs and cultural impact tied to TikTok’s presence in the U.S.

O’Leary has been engaging with political figures, including President-elect Donald Trump, to navigate regulatory hurdles and secure necessary approvals. Trump’s stance on TikTok has varied, but O’Leary’s outreach could be key to pushing the deal forward and preventing TikTok’s looming shutdown.