Famous Canadian Entrepreneur Kevin O'Leary May Acquire TikTok Soon

Shark Tank's Kevin O'Leary is about to finalize a significant deal to acquire TikTok's U.S. operations in a move that aims to avert a looming ban on the popular app, potentially weighing in at around $300 billion, according to projections by Wedbush Managing Director Dan Ives. During an appearance on Fox News' The Story with Martha MacCallum, O'Leary, a Canadian businessman known from Shark Tank, emphasized the need for collaboration with President-elect Donald Trump and his administration to successfully close the transaction and ensure TikTok's continued availability in the U.S. market. This is prepared by SSP.

O'Leary took to X to elaborate on the bid, revealing his partnership with Frank McCourt, former Dodgers owner, for the effort that goes beyond merely acquiring TikTok’s assets—it focuses on safeguarding the privacy of 170 million American users, supporting creators and small enterprises, and fostering a platform that prioritizes users over algorithms. Concerns persist about ByteDance, TikTok’s Chinese parent company, possibly sharing user data with the Chinese government, which prompted a legislative move for a ban signed by President Joe Biden in April 2024.

Yet, there’s notable pushback against this ban, with Pew Research Center noting only 32% of Americans support it. Even former President Trump, once a proponent of the ban, may now reconsider in light of TikTok advancing his appeal among younger voters. Calming fears of national security threats while fostering innovation, O'Leary’s vision aligns with creating an American-owned platform where control over personal data is centralized in the hands of users themselves.

Expressing excitement about the partnership, O‘Leary sees the joint venture with McCourt’s Project Liberty as instrumental to reinforcing national security, creating a trustworthy digital environment, and invigorating TikTok's influence as an economic and social catalyst. Their combined ambition is to construct a more secure and progressive TikTok that aligns with American values, a campaign anticipated to earn more traction as January 19's ban deadline approaches. Amidst escalating legal debates at the Supreme Court on the ban, O'Leary’s initiative may come across multiple strategies, some aimed at ensuring TikTok's uninterrupted U.S. presence foster fruitful negotiations with President-elect Trump and ultimately protect millions of user relationships and trusted platform experiences.

Earlier, SSP wrote that Suki Waterhouse celebrated her 33rd birthday with a huge leg bruise.