Ultrawealthy investors are vying to buy TikTok — here's what some would do if they took over the mega-app
Dec 08, 2024 - businessinsider.com
The US Appeals Court has upheld a decision that could lead to a ban on TikTok in the United States unless its parent company, ByteDance, sells its stake by January 19, 2025. TikTok plans to appeal the decision to the Supreme Court, arguing it infringes on First Amendment rights. Amidst this uncertainty, several investors, including Kevin O'Leary, Steven Mnuchin, Bobby Kotick, and Frank McCourt, have expressed interest in purchasing TikTok. Each has outlined different plans for the platform, ranging from replicating its algorithms to enhancing user data privacy and security.
Kevin O'Leary aims to transform TikTok into a US-centric platform, while Steven Mnuchin plans to rebuild its technology under US leadership. Bobby Kotick has discussed potential collaborations with OpenAI, and Frank McCourt's "The People's Bid" focuses on user data control and digital independence. Other companies like Microsoft, Walmart, and Oracle have previously shown interest but have not confirmed new bids.
Key takeaways:
The US Appeals Court upheld a decision requiring ByteDance to sell TikTok by January 19, 2025, or face a ban in the US.
Several investors, including Kevin O'Leary, Steven Mnuchin, Bobby Kotick, and Frank McCourt, have expressed interest in purchasing TikTok.
Potential buyers plan to rebuild TikTok's technology under US leadership and ensure its separation from ByteDance.
Previous interested parties like Microsoft, Walmart, and Oracle have not confirmed if they will make another bid for TikTok.
