Originally appeared on E! Online
Kevin O'Leary is ready to make a deal to stop the U.S. TikTok ban.
The "Shark Tank" star has teamed up with other entrepreneurs — including former Los Angeles Dodgers owner Frank McCourt — to lead a bid in purchasing the social media platform from its Beijing-based parent company ByteDance, which has been required by U.S. officials to sell its assets to an American buyer or face a nationwide ban.
However, O'Leary believes he needs help from President-elect Donald Trump to finish the job.
"Trump will be who we have to work with to close the deal in the months ahead," he said during a Jan. 6 appearance on Fox News' The Story with Martha MacCallum, per The Wrap. "So, I wanted to let him know — as well as others in his cabinet — that we're doing this, and we're going to need their help."
As to why O'Leary wants to purchase TikTok?
"This isn't just about buying TikTok's U.S. assets," he wrote in a Jan. 6 message on X, formerly Twitter. "It’s about something much bigger: protecting the privacy of 170 million American users."
Entertainment News
I’m excited to share that I’m partnering with Frank McCourt and the visionary team at @pro_jectliberty to lead The People’s Bid for TikTok!
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) January 6, 2025
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.… pic.twitter.com/kzxk5RfEgY
In the past, O'Leary said TikTok is worth "worth billions" as one of the "most successful advertising platforms in social media today."
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"What I'm proposing is purchasing these assets into a new American company," he told Fox & Friends in March 2024. "I'll guarantee it becomes safe for the users, the parents, small business and large business."
