Originally appeared on E! Online
Kevin O'Leary is ready to make a deal to stop the U.S. TikTok ban.
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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.
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"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."
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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."
"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."
