Kevin O’Leary, investor and star of Shark Tank, has publicly offered $20 billion in cash to purchase TikTok, the Chinese-owned social media platform that has been at the center of national security debates in the United States. During an interview on Fox News’s America’s Newsroom, O’Leary stated, “Right now, $20 billion’s on the table. Cash.”
O’Leary previously expressed interest in acquiring TikTok to prevent it from being banned in the U.S. Earlier this year, he suggested forming a bipartisan advisory committee to oversee the transition of the app from Chinese ownership, ensuring compliance with U.S. regulations. “It [is] not going to get banned. Somebody will buy it,” O’Leary predicted in March.
His offer comes in the wake of the Supreme Court’s recent decision to uphold the Protecting Americans from Foreign Adversary Controlled Applications Act. The legislation, passed with bipartisan support in April, requires TikTok to divest from its China-based parent company, ByteDance, within nine months or face removal from app stores and hosting services in the U.S.
The law reflects growing concerns in Congress about TikTok’s potential misuse as a data-gathering and propaganda tool by the Chinese Communist Party. While many younger users have rallied against a potential ban, lawmakers across party lines have emphasized the national security risks associated with the app. O’Leary’s bold offer underscores the platform’s immense value and the high stakes surrounding its future in the United States.
Earlier this week, O’Leary announced that he partnered with an initiative seeking to acquire TikTok.
“Internationally recognized investor and entrepreneur Kevin O’Leary joins forces with The People’s Bid for TikTok, an effort led by Project Liberty Founder Frank McCourt,” a press release on the matter said. “The bid aims to purchase TikTok’s U.S. assets and rebuild the platform in a way that prioritizes the privacy of its 170 million American users.”
“Joining The People’s Bid for TikTok is an opportunity to take action on an issue I’m deeply passionate about – protecting privacy and creating value for users,” O’Leary stated. “TikTok has immense potential—not just as a tool for creators and businesses, but as a cornerstone of a more secure, people-centered digital future. Together with Frank, we aim to deliver an American-owned platform that safeguards national security while empowering its 170 million U.S. users to thrive. With the January 19 deadline quickly approaching, I’m confident that our shared vision, paired with President-elect Trump’s business acumen, will lead to a deal that benefits everyone.”