- US court orders TikTok sale
- Billionaires rush to bid
- Privacy changes planned under new ownership
Money Talks
A US Appeals Court decision has forced ByteDance to sell TikTok by January 19, 2025, or face a US ban. Several high-profile investors, including Kevin O’Leary, Steven Mnuchin, Bobby Kotick, and Frank McCourt, have expressed interest in acquiring the platform, offering bids ranging from $20-30 billion – significantly below TikTok’s $220 billion valuation.
New Tech, New Rules
The potential buyers share common ground on rebuilding TikTok’s algorithm under US leadership. Most notable is former Dodgers owner Frank McCourt’s “People’s Bid” proposal, which aims to transform the platform into a user-focused service where individuals control their data and privacy.
Big Tech History
Previous acquisition attempts by tech giants Microsoft, Walmart, and Oracle in 2020 under Trump’s administration failed after TikTok’s court victory. These companies haven’t publicly stated whether they’ll make new offers under the current circumstances.
