In a surprise move, Kevin O’Leary, a prominent businessman and Shark Tank investor, has announced that he is close to striking a deal to purchase TikTok’s US assets. The acquisition, which is reportedly in its final stages, aims to protect the privacy of TikTok’s American users and prevent a potential federal ban on the platform in the United States.
O’Leary, who appeared on Fox News on January 19, 2025, revealed that he has been in talks with TikTok’s parent company, ByteDance, for several months. He expressed his confidence that the deal would be finalized soon, pending regulatory approvals.
“TikTok is a phenomenal platform with over 150 million active users in the US alone,” O’Leary said. “However, concerns around data privacy and national security have created uncertainty around its future. I believe that by acquiring TikTok’s US assets, we can address these concerns and provide a safe and secure platform for American users.”
O’Leary’s proposal involves creating a new entity that would oversee TikTok’s US operations, with a focus on enhancing user privacy and data security. He has pledged to work closely with US regulators to ensure that the platform complies with all applicable laws and regulations.
The potential acquisition comes at a critical time, as TikTok faces increasing scrutiny from US lawmakers and regulators. In recent months, there have been calls for a federal ban on the platform due to concerns around data privacy and national security.
O’Leary’s deal, if successful, could potentially alleviate these concerns and provide a new lease on life for TikTok in the US. The acquisition would also mark a significant expansion of O’Leary’s business empire, which already includes a diverse portfolio of investments and ventures.
As the deal nears completion, TikTok users and stakeholders will be watching closely to see how the acquisition unfolds and what implications it may have for the platform’s future in the US.
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