Kevin O’Leary Offers $20 Billion to Buy TikTok Amidst US Ban
Canadian businessman Kevin O’Leary has made a stunning offer of $20 billion in cash to buy TikTok, just as the platform faces a ban in the US over national security concerns O’Leary’s move comes after President Biden signed a bipartisan bill forcing ByteDance, TikTok’s Chinese parent company, to divest or sell the platform to remain in American app stores.
The Supreme Court recently upheld the ban, and ByteDance faces a deadline to comply. O’Leary warned that any service provider allowing access to TikTok after the deadline could face fines of $5,000 a day, multiplied by 170 million users.
While O’Leary’s offer is substantial, it’s unclear if ByteDance will accept, as they’ve already stated they won’t sell their core algorithm. The situation is unfolding rapidly, with the US deadline looming and the future of TikTok hanging in the balance.
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