Kevin O'Leary and Frank McCourt want to acquire TikTok's US business

The prominent investor and 'Shark Tank' star Kevin O'Leary has announced that he is participating in an acquisition offer for TikTok's US operations. In an interview, O'Leary revealed that he had the opportunity last weekend to discuss his plan with former US President Donald Trump at Mar-a-Lago. He is collaborating with American entrepreneur and former Los Angeles Dodgers owner Frank McCourt. O'Leary made it clear that this deal is highly complex and valued at several billion dollars. As a strategic approach, he plans to cooperate with both outgoing President Joe Biden and Trump, who will soon take office. He emphasized the necessity of bipartisan cooperation and has already informed Trump and his cabinet about the planned steps to secure support. The US Supreme Court will deliberate on Friday on a bill previously signed by Biden, which mandates TikTok to divest from Chinese owners by January 19 to avoid being banned. TikTok considers the law unconstitutional. Trump demanded that the enforcement of the law be delayed to seek a political solution, but the Department of Justice disagrees. McCourt, who made it onto the Forbes list of billionaires in 2024 with a fortune of around $1.4 billion, had already mentioned his intentions regarding TikTok in May. O'Leary also independently expressed his interest. Although TikTok's parent company ByteDance does not plan to sell the platform, O'Leary remains determined. His press release underscores the intention to join McCourt's led project 'The People's Bid for TikTok' to acquire the platform's US assets and prioritize the data privacy of the 170 million American users.