O'Leary's $20B Bid for TikTok Amid U.S. Ban

Kevin O’Leary, the 'Shark Tank' investor, has made a $20 billion cash offer to purchase TikTok amid looming U.S. bans that require its Chinese parent company, ByteDance, to divest or face removal from U.S. app stores. Following a Supreme Court ruling that upheld a law aimed at addressing national security concerns regarding TikTok's data practices, O’Leary emphasized the urgency of the situation, noting that TikTok could 'go dark' after January 19 if no agreement is reached. He also highlighted significant financial risks for any company that continues to support TikTok post-deadline, with potential fines exceeding a billion dollars daily. O’Leary's group is willing to proceed without TikTok's proprietary algorithm, underscoring his belief that a sale is in ByteDance's best interest given the app's 170 million American users. The situation is complicated as companies weigh the risks of keeping TikTok operational against potential legal and financial repercussions. O’Leary expressed excitement over the challenging deal, framing it as a critical moment for both TikTok and American consumers.