Canadian businessman Kevin O'Leary claims to be close to finalizing a deal to purchase TikTok's U.S. assets from its Chinese parent company, ByteDance. O'Leary, along with other investors including Frank McCourt, aims to secure the deal and avoid a potential U.S. ban on the popular social media app. He acknowledges the need for cooperation with the Trump administration to facilitate the transaction.
said he's nearing a deal to buy TikTok from its Chinese-owned parent company ByteDance to avoid the U.S. ban on the social media app." 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.
"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."
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