Shark Tank’s Kevin O’Leary Says He’s Nearing Deal to Buy TikTok

Mar. 15, 2025

Kevin O’Leary.Photo:Getty

Getty

Shark Tank’sKevin O’Learyhas plans to purchase TikTok.

During an appearance on Fox News’The Story with Martha MacCallumon Monday, Jan. 6, the Canadian businessman and investor, 70, expressed interest in acquiring ownership of the social media platform before it faces a ban in the United States on Jan. 19.

However, O’Leary insisted that his proposed buyout would need help from President-electDonald Trump.

Kevin O’Leary on ‘Shark Tank’.ABC via Getty

ABC via Getty

“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 television personality said, according toThe Wrap.

Inhis tweet, O’Leary said he was “excited” for the opportunity to partner with McCourt’s Project Liberty.

“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 wrote.

Stock photo of someone using TikTok.NurPhoto via Getty Stock Photos

NurPhoto via Getty Stock Photos

The potential ban comes after concerns about China possibly using TikTok as a surveillance tool on American citizens. An American buyer would allow the app to continue to be available in the United States.

“TikTok has immense potential, not just as a tool for creators but as a driver of meaningful economic and social impact. Together, we’re working to create an American-owned platform that is secure, innovative, and puts YOU in control of your data and digital relationships,” O’Leary’s tweet concluded.

Kevin O’Leary, May 2024.Getty Images for TAG Heuer

Getty Images for TAG Heuer

He also included the link to apress release, which mentioned how O’Leary “has helped shepherd countless businesses and start-ups to success.”

“It’s clear that our visions for a people-centered, American-owned platform are closely aligned, and our combined efforts will give a significant boost to The People’s Bid as the January 19 deadline for a sale of TikTok quickly approaches,” McCourt said in a statement.

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“Kevin and I, along with the thousands of supporters who have come forward to back The People’s Bid, firmly believe we can build a better TikTok – one that protects our national security and becomes a safe, secure platform that millions of people on the app will trust. We look forward to working with President-elect Trump to save TikTok."

source: people.com