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O’Leary Ventures President Kevin O’Leary joins ‘America’s Newsroom’ to discuss his efforts to buy TikTok after the Supreme Court upholds the upcoming sell-or-ban law.
The watch might not be sell out tiktok as fast as some previously thought. The social media platform could get a lifeline from TikTok critic-turned-user President-elect Trump. On Sunday, Trump told NBC News that he would “most likely” give TikTok a 90-day extension from the Jan. 19 deadline after he takes office on Monday.
On Friday, TikTok released a statement about the “possible shutdown,” expressing disappointment at the Supreme Court’s defense of the bipartisan law banning the app unless its Chinese-owned parent company sells on Sunday.
The TikTok logo is seen in this illustrative photo taken in Warsaw, Poland on December 28, 2024. (Jaap Arriens/NurPhoto via Getty Images/Getty Images)
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“The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to service providers that are critical to keeping TikTok available to more than 170 million Americans.” , says the TikTok statement.
The social media company called on the Biden administration to guarantee the ban would not be enforced, adding that TikTok would be “forced to go dark” if the White House does not.
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“Shark Tank” investor Kevin O’Leary. put a $20 billion cash offer on the table to buy the app.
“There’s a reason Congress put this order before the Supreme Court. There’s a reason it ruled in favor. It’s not worth the risk,” O’Leary said. “And so the obvious solution is to sell it to an American syndicate as ordered.”
Kevin O’Leary is offering $20 billion in cash to buy TikTok. (Getty Images/Photo Illustration/Getty Images)
This isn’t the first time Trump has hinted he’s considering helping the video-sharing app. Last month, Trump admitted to having a “warm spot in my heart.” TikTok after using it in his last presidential campaign.
“He has repeatedly said that he believes that TikTok is an app on which tens of millions of Americans express their First Amendment rights, and the federal government cannot shut down that First Amendment right and violate the constitutional right of tens of millions of Americans who express themselves freely on this app,” said incoming Trump White House press secretary Karoline Leavitt.Wall Street by Maria Bartiromo“on Friday.
“That said, of course the best outcome for everyone is for an American company to own this application,” Leavitt added.
The Senate approved the forced sale of Chinese-owned TikTok after approving the largest foreign aid package on Tuesday night. (Photo by Celal Gunes/Anadolu via Getty Images/Getty Images)
TikTok, which took the internet by storm during the COVID-19 pandemic, has been the subject of controversy due to its parent company’s ties to the Chinese government. Lawmakers on both sides of the aisle have expressed concern that the app could be weaponized or used to collect large amounts of user data.
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As of now, TikTok’s parent company ByteDance has until midnight to sell the platform.
