Shark Tank’s Kevin O’Leary is close to a deal to buy TikTok

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The countdown is on before America’s TikTok ban goes into effect. A quick refresher: Back in April 2024, Biden signed a bipartisan bill into law requiring TikTok’s Chinese parent, ByteDance, to sell the app to a US company within 270 days or risk being removed from US app stores and any “internet hosting services” that support it. Government officials and members of Congress have been given some pretty alarming intelligence briefings about the company, which is challenging the law in front of the Supreme Court on Friday, January 10. The deadline for the sale is January 19, and if I may say, it feels like we’ve all lived 270 different lifetimes over the past nine months.

Shark Tank’s Kevin O’Leary is trying to swoop in and save the day. On Monday, he announced that he and former Los Angeles Dodgers owner Frank McCourt are close to finalizing a deal to buy TikTok from ByteDance and therefore prevent the ban from happening. He even went on Fox News to appeal to the president-elect to help him get it across the finish line in the upcoming months.

“Shark Tank” star Kevin O’Leary on Monday said he’s nearing a deal to purchase TikTok’s U.S. business in a move that would save the popular app from being banned from the States. TikTok is set to be banned from the U.S. on Jan. 19, unless the company’s parent company, Beijing-based Bytedance, can find a buyer for its American business.

O’Leary, while making an appearance on “The Story with Martha MacCallum” on Fox News, said he’ll need the assistance of president-elect Donald Trump to get the deal across the finish line.

“Trump will be who we have to work with to close the deal in the months ahead. 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.”

Earlier in the day, O’Leary posted on X that he was partnering with former Dodgers owner Frank McCourt on his bid for TikTok. A deal for TikTok’s American business will not be cheap. Wedbush Managing Director Dan Ives told TheWrap last month a deal for TikTok — which has 170 million monthly users in the U.S. — would cost a record-setting $300 billion.

The TikTok ban was initially floated during Trump’s first administration, before ultimately being passed by Congress and signed into law by President Joe Biden last April. The chief concern U.S. lawmakers have with TikTok is that it doubles as a spyware app for the Chinese government; TikTok, according to Chinese law, is required to share user data with China’s communist government, if it is asked to do so.

Most Americans do not seem to be too concerned with China’s government having easy access to their data, though. Only 32% of Americans are in favor of the U.S. government banning TikTok, according to a Pew Research Center survey in September.

Despite his initial support, Trump has since changed his tune on banning TikTok, saying last year that he would like to “save” the app. And in December, Trump reiterated he would like to keep TikTok in the U.S. He said he’d “take a look” at saving TikTok, noting he had a “warm spot” in his heart for it because it helped get young people to vote for him.

TikTok has been scrambling to find a legal remedy to keep its app in the U.S. as its ban date approaches. In mid-December, The U.S. Supreme Court said it would listen to arguments from TikTok on why it should block the law behind the ban. That crucial hearing is set for Friday.

[From The Wrap]

I know a lot of you disagree with the ban, but as someone who has never had a TikTok account and therefore has no dog in this fight, I think it’s crazy how little people seem to care about the Chinese government potentially having “easy access” to their data. There’s an entire political party that thinks they need AK-47s to defend themselves against the US government because they think there are nanobytes or whatever spying on them through 5G technology. Yet, it’s totally cool for a foreign government to know their personal business? I said it back in April, and I’ll say it again: If you have Senators Liz Warren and Tom Cotton voting the same way based on intelligence briefings they’ve gotten, then there is definitely cause for concern.

All that said, I am absolutely for avoiding a ban by having a U.S. company or investor buy it. It’s even better now that it’s not Steve Mnuchin doing the acquiring! If only someone could only convince Mark Cuban to buy Twitter, lol. I think O’Leary is right to go on Fox and talk up the 47th president’s involvement in a deal happening. Tell that old man whatever he needs to hear to make it happen. I have no idea which way this ban will play out, but I strongly feel that in the end, it’s going to be up to whatever the 47th president tells his cult members to do.

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52 Responses to “Shark Tank’s Kevin O’Leary is close to a deal to buy TikTok”

  1. ThatGirlThere says:

    “I said it back in April, and I’ll say it again: If you have Senators Liz Warren and Tom Cotton voting the same way based on intelligence briefings they’ve gotten, then there is definitely cause for concern.“

    Agreed. I don’t use TikTok either so I don’t even really see the appeal but I’m not a youth. Also. Any site that has ONLY an app and no useable website is shady as hell.

    Kevin O’Learly is a racist maga so I’d rather it be done with all together in the U.S. the Billionaire monopoly on tech is dangerously as hell. I can stand Mark Cuban but even him I’m iffy about.

    • Megan says:

      For me, I think it’s likely a lobbying push by meta/twitter because people are using Tik Tok more than other platforms. I always think about how none of these people actually cared when Facebook did give all of our data to Russia, so this just seems performative and a ploy to appease the corporate overlords.

      • JoanCallamezzo says:

        Exactly this, Zuckerberg, all of them have our data. All of our data and info. Tic Tok can be incredible, there’s no other platform like it and I have learned so much there. If it’s banned I’ll go to the Neptune app.

      • Mireille says:

        Yup, Facebook, X, YouTube, Instagram, Snapchat, Twitch, etc. all have access to their users’ data and frankly, can do whatever they please with it, without their knowledge, discretion, or approval. And Facebook doesn’t make money off selling ad space on their platform — its selling user information to outside parties, agencies, and even governments. Their biggest asset is not even their stupid platform. Their biggest asset are their users and the information they aggregate from them.

      • Kitten says:

        Ding ding ding! We have a winner.

      • Ula1010 says:

        If the govt was really concerned about our data, they would be passing legislation to protect us across all platforms. A lot of us have seen how our homegrown platforms have manipulated the public to our detriment.

      • Anna M says:

        @Megan, this! It’s a lobbying push because TikTok is having more engagement than any other platform and also took most of the younger generation which is the future of tech. This makes all other platforms envious and jealous, so they’re trying to stop it.

    • Windy says:

      I’m a national security professional and came here to say that the Chinese government’s access to our data is completely different than Meta, Twitter, etc having it. China is an avowed adversary of the US and has stated they will do whatever they can to weaken us. This is absolutely a national security issue. Although Bytedance is a sorta-“private” company, by Chinese law they have to hand over all their data to the government when told. China’s objective is to use that information against us.

      • Josephine says:

        With all due respect, the real issue is the use of our data, period. There is a horrific misuse of data by AMERICANS against AMERICANS. Solve that problem and apply it to everyone. There is an entire political party working against the American people, using lies and data and we remain unprotected across all platforms.

  2. Tate says:

    Ummm… O’Leary is a Magat.

  3. Aimee says:

    I didn’t know he was Canadian until recently. Apparently Canada hates him. I think that’s hilarious.

    • SarahMcK says:

      We do hate him!

    • NotMika says:

      We sure do hate him.

    • Juliette says:

      We absolutely do hate him. He’s a traitor and a scumbag. Went to see Trump to try and encourage him to go after Canada. He and his wife were in a boat accident where someone was killed. His wife took the fall but we all know it was him driving the boat and they both got off pretty much scot free. He’s complete trash.

  4. TQ says:

    Yep, am totally with you @Rosie. Don’t have a TikTok account (but I am Gen X). But mind also boggled why so few users care about access to their personal data, be it by Chinese government, US government or whomever. I hear this from my students (university level) all the time — ‘we have nothing to hide so who cares?’. Still don’t get it. Guess growing up reading 1984 etc resonated with our generation more?

    And didn’t know anything about O’Leary’s politics until comments from others above. Oh boy, a racist MAGA owning another platform? That sucks big time.

    • 80sMercedes says:

      If you’re still of the mind that TikTok is only for kids, you’re about 5 years outdated on that. There’s a HUGE number of Gen X content creators – and older.

      Also, Kevin O’Leary is Canadian.

    • Anon @ Work says:

      The US government already has access to and steals our personal data/information, so at this point, what difference does it really make if a foreign government does too?

  5. BQM says:

    Im never down with the conspiracy theories and whatnot but I don’t have tiktok because of the Chinese government. Plus all the dis/misinformation they helped spread.

  6. Jackie says:

    Bytedance has several apps, they’re all allowed on my husband’s county phone except TikTok. I really think this is more about stopping people from helping each other to become powerfully informed. There’s silly cat videos, but there’s also a lot of legal and medical advice, exposing crimes, etc

  7. Mireille says:

    If the U.S wants to ban TikTok then ban TikTok. But then there is this little caveat of selling it to a U.S. company and it won’t be banned. Doesn’t this bother anyone else? The U.S flexing its imperialistic arm to bully a company into giving in. A U.S. company owning TikTok will have access to spy on their users. And, please spare me the bullshit that the U.S. government won’t allow that. Trump is coming back into power and many of the SM platforms such Meta and X are already groveling at his dictator feet to appease the new incoming administration. They want to control the data and information on popular public communication platforms without checks and balances on facts and with little regard to the First Amendment. Foreign spyware is scary threatening but the U.S. tactics on trying to obtain TikTok is equally frightening.

    • laulau says:

      Yes to all of this.
      I also remember Mitt Romney mentioning that they (presumably Biden’s people too) thought tiktok getting new owners would quell pro-Palestine sentiments… The idea that the government supporting war crimes didn’t need to change, just the access to information that is getting banned on other socials. This will be what it always is, not security or freedom of speech overall but who profits and who curates the ideologies allowed. So glad a right-wing buffoon will be at the helm!

    • AlpineWitch says:

      Exactly this!!

    • Ula1010 says:

      Yep. All of this!

  8. Annie says:

    Im not convinced it has anything to do with our personal data landing in the hands of the Chinese govt. As if Meta hasnt already sold it 😂 as if it hasnt already been leaked over the years through various data leaks.
    This is because Meta has been lobbying hard to get tiktok banned so people can use Ig and Fb more. It also works in the govts favor since tiktok doesnt care about suppressing damning governmental info and just information in general.

  9. sevenblue says:

    It isn’t just about Chinese government having access to personal data. They can manipulate trends, censor the content they want. Since the app is so popular among young people, the public opinion can easily be shaped in favor of foreign government’s interest.

  10. Nikomikaelx says:

    The anti-chinese propaganda is crazy. As if all the other social networks (that are American) dont have all the same data and do all the same things.

    People are getting news and using tiktok more than the american ones, like meta and twitter now.
    Its crazy to me that goverment is trying to force company to sell their product, cause im sure amertican company would use all the data for good.

  11. Selene says:

    I agree with @Annie up there. This is not about selling data (our data has been sold since forever, Zuckerberg got in trouble for this), this is about the fact that TikTok ate everyone’s candy. People get educated on Tiktok, the information influx is free and we get firsthand accounts of relevant and current information that is not made accessible by the media. Also, that generational argument presented here is silly: there are 70, 80 and 90 year olds that are content creators on TikTok. It’s no longer about dancing or trends, and speaking about it as if it were is so patronizing and misinforming.

  12. Jilliebean says:

    Kevin O’Leary is Canadian. He can’t be MAGA because Canada is a different country from the US – Seems like that’s not so clear.

    See what happens when fact checking gets removed lol

    • Lea says:

      He is what we call Maple MAGA. He said he is willing to be the point person on negotiating Trumps take over of Canada. There are a lot of people in Canada who support the MAGA movement not understanding making America great means others will “lose”

    • Enis says:

      MAGA Canadians are absolutely a thing. They came to prominence during the Trucker Protests. In fact the MAGA movement has spread all over. It’s even part of the current crisis in South Korea.

      • Gah says:

        Totally agree. The MAGA movement is all over the world as populism and right wing ideology gather steam. Look at Italy, Poland, Hungary, Germany, France. The liberal party in the UK might lose the prime minister.

        There’s a huge ideological wave happening that is disturbing as a macro trend.

      • A Fan says:

        I call them MAGA North. And yes, there are a lot of them where I live. Ugh.

  13. crazyoldlady says:

    The idea that Kevin O and his buddy end up with TT is beyond ridiculous. There are huge legit tech companies and investors that would I would put over this wanna-be big shot every day of the week. And – data security – whatever. It’s the AI driven algorithm that worms into your brain and learns everything about what you like, what you watch, and what arguments work best on you – that is the thing to fear. Day after day – learning about you. And how to manipulate you. These are propaganda machines that lie to and distract us.

  14. MsIam says:

    I don’t use TikTok but I follow a lot of political creators on YouTube and they post their TikToks there. I think as more people abandon network news media, the 1% are nervous about not being able to control the narrative and the information people are getting. That is what is most worrisome to me, the absolute control these folks want to have over our lives and even our thought life.

  15. Chloe says:

    To everyone who is saying that you get the true news or whatever through TikTok, how do you know that it’s not just propaganda being handed to you by someone with their own agenda? We saw how much right-wing a-holes were able to swing the election for Trump by feeding people misinformation via TikTok. Why do you trust that someone isn’t doing the same to you?

    • Kitten says:

      I mean, how do you know that you’re not receiving propaganda through mains stream media?? The government and the media have always ALWAYS been engaged in a cycle of mutual manipulation and self-interest. Every main stream publication you read is corporate-owned and beholden to the whims and wants of their editorial boards, their shareholders, their corporate interests etc.

      So the answer to your question is that you use critical thinking. You seek out the people who have the proper credentials on the the subject for which they are speaking on–whether it’s an independent journalist, a climate scientist, an ER doctor, an urban planner–whatever. For myself, I trust the opinions and information coming from, for instance, a doctor who has practiced in the medical field for 25 years over a CNN medical correspondent who went from writing about biotech to suddenly covering health and wellness.

      • kirk says:

        Sounds like somebody mistrusts American neurosurgeon, Dr Sanjay Gupta.

      • Kitten says:

        Gupta, the guy that accused Michael Moore of “fudging facts” when he made Sicko? The guy who misidentified a patient on whom he operated? The guy that is employed by CNN, who is owned by Warner Brothers and Disney?
        Damn right I don’t trust him.

        And that’s the thing about creators on TikTok–they don’t answer to corporations which makes them infinitely more trustable by my eyes.

      • kirk says:

        Kitten – Re: “The guy who misidentified a patient on whom he operated?” You have not specified the instance for your charge of misidentification. Since you have chosen not to be specific, perhaps deliberately in order to better smear your target, I’ve attempted to discover what you’re even talking about and determined you’re likely talking about a 2015 story that CNN corrected – https://www.poynter.org/reporting-editing/2015/cnn-acknowledges-fault-in-sanjay-gupta-operation-story/

  16. Jessica says:

    I have TikTok and I love TikTok and I think the China fear mongering is overblown hardcore. “They have your data!” So does literally every website and app and government. “They can push what they want you to see and suppress other stuff” so basically the same as every other MSM/SM? There’s so much good information on there, and it helps people connect so much better than other SM. I am of the belief that it’s Zuck and Musk trying to force people back to their SM.

    • Kitten says:

      Agreed. If you have a treat camera for your pets that you bought on Amazon, the Chinese are probably spying on you–it’s pretty unavoidable. But to suggest a platform that engages in the EXACT same kind of data-collecting practices as every other American-based social media platform is somehow in violation of Americans’ right to privacy is misguided at best and xenophobic at worst.

      And I love Warren–she is my senator–but she is wrong on this.

      • kirk says:

        And you think that Senator Warren, whom you love, is wrong about voting for a ban on “social media applications that are subject to the control of a foreign adversary—per Title 10—and pose a national security risk” (Select Committee on CCP – https://selectcommitteeontheccp.house.gov/media/press-releases/gallagher-bipartisan-coalition-introduce-legislation-protect-americans-0).

        Is that because you’ve received the same intelligence briefings as Senator Warren?

      • Kitten says:

        I thought I was pretty clear in my comment but yes, I think she’s wrong for targeting TikTok.

        Sen Warren: “Let’s not just pick one company and say it presents a problem. If people are stealing your data and selling it, that’s a problem, regardless of the company,”

        I do like that she’s pushing for more oversight on social media platforms regardless of whether they belong to a “foreign adversary” or are domestically-located but that bill is going absolutely nowhere given the fact that our government is now owned by tech billionaires.

        ….any more “gotchas”?

        PS- My husband and I both called Warren’s office to complain about her stance on this issue. It sure is nice to actually be a part of her constituency….

      • Mireille says:

        @Kitten Absolutely. I like Senator Warren too but this TikTok ban doesn’t guarantee our safety and security. I fear once it’s bought by an American entity what then? How are they are going to use it? Especially with the incoming Trump administration, his radical base, and these same tech bros and investors cozing up to him, it can become a weaponized propaganda tool. Sorry, don’t mean to sound paranoid or alarmist, but there are too many unethical, immoral, misguided players out there who’d want access for nefarious purposes — foreign and domestic adversaries.

  17. Nikki says:

    I’m with you, I have no idea why anyone signed up for TikTok or any social media that is demonstrably aligned with a hostile foreign country. Twitter is owned by a South African corrupt racist, funded by Putin and MBS. Facebook, Instagram and Threads is owned by an incel who’s allegiance is to money money money and only money.

    Kevin O’Leary is an incompetent business person, a corrupt person all around and a drunken double murderer who left the scene of a boat crash, had a couple (MORE) cocktails at his cottage and had his wife take the blame. He’s not much better than China, he simply wants TikTok to remain in the US so that they can control the right wing agenda to the young people. The better outcome is a complete ban. There’s a reason most governments don’t allow government employees to use the app.

  18. Veronica S. says:

    A lot of people seem to be making the assumption all wariness and distrust on the app is based on modern yellow fever, which is, amusingly, kind of backhandedly racist on its own. China is the second biggest military and economic super power behind America. Acting as though its leaders can’t be capable of the same subterfuge all empires utilize against each other is just ridiculous.

    Not that this purchase is anything to celebrate. TikTok has proven to be a very useful propaganda tool for our homegrown conservatives. It doesn’t bode well for the youth to be on it if they plan on taking full advantage of its misinformation capacity.

  19. Truthiness says:

    I also don’t have a dog in this fight other than regretting that others are swayed by lies. If both sides of the Senate Intelligence committee agree on a problem, I’m good. I also don’t have FB, Ig, Threads, Snapchat, anything requiring an app. I have fakey bluesky and twitter logins (no app) but I don’t post and I can live without it. I’d rather set my hair on fire than download anything owned by Zuckerberg, Elno, China.

  20. JustMe says:

    If I was China I would have a chip in everything I made – that could activated all at once to turn off anything electronic that was made in China. Then swoop in and take over during the confusion

  21. HK9 says:

    Canadian here who uses TikTok – it’s O’leary – a racist Maga who’s looking to make money from the Trump administration and will simply do what Elonia did to Twitter. As far as I’m concerned, it will be a fascist mouthpiece for the next four years. I’m making a list of creators I want to follow and I’m leaving the app. I also think that Meta has more information on all of us than TikTok will ever have. If any of you are in the US, I’d think about revamping your whole internet life before Jan. 20th. TikTok will be the least of your worries.

  22. Anonymous says:

    First they wanted to ban it because of Chinese propaganda, but now Trump is okay with it if this killer asshat buys it, so in other words it will become another platform for even more right-wing propaganda.

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