Shark Tank's Kevin O'Leary eyeing to buy TikTok, seeks Trump's help as US ban looms: ‘We’re doing this’

Kevin O'Leary, star of “Shark Tank,” announced on Monday that he is getting close to acquiring TikTok's US business. He seeks Trump's help to finalise the deal.

Updated on: Jan 7, 2025, 22:44:45 IST

By Shweta Kukreti

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Kevin O'Leary, star of “Shark Tank,” announced on Monday that he is getting close to acquiring TikTok's US business, a move that would prevent the well-known app from being banned in the United States. The app will be banned from the US on January 19 if Beijing-based Bytedance, the parent company of TikTok, cannot find a buyer for its American business.

Kevin O'Leary announced on X that he was working with Frank McCourt, the ex-owner of the Dodgers, to bid for TikTok. (REUTERS FILE)

During an appearance on Fox News' 'The Story with Martha MacCallum, Kevin O'Leary stated that he would require President-elect Donald Trump's help to purchase Chinese app's American business.

“Trump will be who we have to work with to close the deal in the months ahead. So I wanted to let him know, as well as others in his cabinet, that we’re doing this, and we’re going to need their help,” the business mogul said.

Kevin O'Leary announced on X that he was working with Frank McCourt, the ex-owner of the Dodgers, to bid for TikTok.

“This isn’t just about buying TikTok’s U.S. assets. It’s about something much bigger: protecting the privacy of 170 million American users. It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms,” he clarified on X.

TikTok’s American business deal: Will it be expensive or cheap?

It won't be inexpensive to acquire TikTok's American company. Speaking to The Wrap last month, Wedbush Managing Director Dan Ives said that a record-breaking $300 billion would be needed to acquire TikTok, which has 170 million monthly users in the United States.

First proposed during Trump's first administration, Congress approved the TikTok ban and President Joe Biden signed it into law last April.

US lawmakers are primarily concerned about TikTok because it is believed to operate as a spy app for the Chinese government. Under Chinese law, TikTok is obligated to provide user data to the Chinese government on its request.

Also Read: One billion users, but controversies mount up for TikTok

Here's what Americans and Trump have to say on ban

Despite the US government's decision, the majority of Americans do not appear to be overly concerned about China's government having easy access to personal data. According to a Pew Research Center survey conducted in September, only 32 percent of Americans support the US government's decision to prohibit TikTok.

Trump initially favored eliminating TikTok, but he has now altered his mind, stating in 2024 that he would like to "save" the app. Additionally, Trump reaffirmed his desire to keep TikTok in the United States in December. He claimed to have a "warm spot" in his heart for TikTok since it encouraged young people to cast ballots for him and stated he would "take a look" at rescuing the app.

ABOUT THE AUTHOR
Shweta Kukreti
Shweta Kukreti has over 8 years of experience in covering Indian and world politics. She joined the Hindustan Times in 2024 and is primarily assigned to the US desk. She currently works as Deputy Chief Content Producer and reports on a wide range of topics, including US politics, immigration issues (especially H-1B visa) and major global events. Shweta strongly emphasizes team operations, which encompasses monitoring news, delegating tasks, editing, developing comprehensive coverage strategies, and crafting engaging, and data-informed narratives. She received the Digi Star Award at the Hindustan Times within a year of joining for her broad coverage of US politics. In 2025, she earned both a promotion and a redesignation, a significant achievement recognising her contributions and the strong value she brings to the team. She has previously worked with the Indian Express, HTDS, ANI and Republic World. Seniors in all the media organisations recognised her work. Regarding education, she earned a BA (Hons.) in Political Science and a master's degree from Delhi University, and she pursued a PG Diploma in English Journalism from the Indian Institution of Mass Communication (IIMC). She also holds a diploma in Women's Empowerment and Development from IGNOU University and a French certification course from Alliance Française de Delhi. If not working, you can find her exploring the hills and engaging in adventurous activities in Rishikesh and Himachal Pradesh. She loves to play badminton, volleyball, and chess, and spend time with her friends and family. She also enjoys spiritual activities.Read More

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