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Ultrawealthy investors are vying to buy TikTok — here's what some would do if they took over the mega-app
- A legislature upheld a law that forces the sale of TikTok from ByteDance unless it relinquishes its shares in the app by January 19.
- Many investors, philanthropists, and tech giants are interested in acquiring the platform.
- Several ultrawealthy individuals have said publicly what they would do if they acquired the app.
- In March, Kevin O'Leary stated he wanted an investor group to purchase the platform for approx $20-30 billion.
- O'Leary stated that the new version of the app could be created under the existing TikTok brand as a 'steward.'
- Steven Mnuchin, the former treasury secretary, is also interested in purchasing TikTok and replicating the app's signature algorithm.
- Bobby Kotick, Activision's ex-CEO, is considering bidding for TikTok in the hundreds of billions of dollars.
- Frank McCourt seeks to 'give TikTok's users and creators control of their online data,' according to a recent press release.
- In 2020, companies including Microsoft, Walmart, and Oracle, failed to acquire TikTok due to concerns regarding ByteDance's ties to Beijing.
- TikTok is currently unavailable from US app stores until ByteDance sells it off, however, the company is appealing the decision.
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