January 24, 2025 - ByteDance, Chinese parent company of TikTok, faces heightened scrutiny for the app's presence in the U.S. due to national security concerns raised by U.S. lawmakers and President Trump.
If previously Trump wants to ban TikTok in the U.S, he now doesn't seek to ban but to support American prominent entrepreneurs to acquire TikTok's U.S. operations.
CEO of employer.com Jesse Tinsley and YouTube highest earning creator Jimmy Donaldson, better known as MrBeast, have expressed their interest to join bidding to secure TikTok's U.S operations along with other investors.
Tinsley will spearhead the initiative team, comprising institutional investors and high-net worth individuals, and positions MrBeast as the public face with his online influence. “I'll buy TikTok so it doesn't get banned” said MrBeast on X.
Trump encourages billionaires like Tesla CEO Elon Musk and Oracle founder Larry Ellison to consider joining the acquisition efforts team. But no confirmations made from the billionaires leading to intention to participate.
Meanwhile, Billionaire Frank McCourt has expressed to join with other investors in acquiring TikTok's US operations. His bid is part of his Project Liberty initiative that is aimed to give users more control over their data.
The valuation of TikTok's U.S. operations is estimated around $40-50 billion, but Trump assumes a figure of $1 trillion highlighting the economic influence and cultural significance to the people. The acquisition team led by Tinsley is moving forward to navigate the legal and political complexities.
The US Supreme Court upheld a law requiring ByteDance to face a ban, otherwise ByteDance can sell its TikTok's U.S. operations by January 19. Trump's executive order delays the ban by 75 days to ByteDance explores alternatives including joint venture with U.S. investors or even sell its operations in the U.S. entirely.
Tikok is back online, but not available for download on Apple's AppStore and Google's PlayStore. The future of this phenomenal app is still uncertain.
