Kevin O’Leary offers $20 billion in cash for TikTok

Shark Tank’s Kevin O’Leary has offered to pay $20 billion in cash to the owners of TikTok to purchase the social media platform.

Kevin made this announcement on Friday, January 17, 2025, during his appearance on Fox News’s America’s Newsroom. His decision to buy the platform comes amidst national security concerns.

The social media platform’s Chinese parent firm, ByteDance, was compelled to sell or divest from TikTok in order for it to stay available in U.S. app stores after a bipartisan measure signed labeled the app a national security danger, and Sunday is the deadline for ByteDance.

“Right now, $20 billion is on the table. Cash,” the O’Leary Venture’s chairman hinted during his appearance on Fox News.

“There is a reason that Congress put this order in front of the Supreme Court. There’s a reason they ruled in favor of it. It’s not worth taking the risk,’’ he added.

He continued that TikTok will soon go dark by midnight on Sunday and the clock is ticking to strike a deal.

“As of midnight on the 19th, any service provider—that could be an Apple, that could be an Oracle, it could be a video compression technology company that’s being paid as a consulting service, any of them—to keep this thing alive, it’s subject to a $5,000-a-day fine times 170 million. That’s over $1 billion a day,’’ he noted.

 According to him, companies are considering the risks of maintaining the app’s availability in the face of a constricting timescale.

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