Renowned investor and “Shark Tank” personality, Kevin O’Leary, has proposed a $20 billion cash offer to purchase TikTok’s U.S. operations.
This move comes ahead of a scheduled ban on the platform in the United States, set to take effect on Sunday.
O’Leary, in collaboration with billionaire Frank McCourt, aims to acquire TikTok’s U.S. assets from its Chinese parent company, ByteDance.
According to them, the bid seeks to address national security concerns and prioritize user privacy, offering a potential solution to the impending ban.
The Supreme Court recently upheld a law requiring TikTok to divest from ByteDance or face a ban in the U.S.
However, O’Leary’s offer presents a potential resolution to this legal challenge.
While ByteDance has not publicly responded to O’Leary’s offer, the outcome remains unclear as the deadline approaches.
