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O’Leary Ventures president Kevin O’Leary unpacks President Donald Trump’s latest billion-dollar investments and the future of TikTok ownership as multiple deals hit the negotiating table.
As the Internet’s top creator, MrBeast, allegedly prepares to enter the TikTok sales arena, “Mr. Wonderful” is defending his deal as the best and most viable option for the Chinese-owned social platform.
“The most, not troubling, but difficult part of this is on pages five and six of that Supreme Court order from two Fridays ago, which specifically describes: not a single line of code from the existing Chinese algorithm. That’s 5 billion codes that nobody can use,” explained Kevin O’Leary in “Varney & Co.”, Thursday
“So now it goes back to which group, I don’t care how many people announced this, has the technology to back it up. And as far as I know, it’s just the McCourt-O’Leary bid. We have the technology “
O’Leary and billionaire businessman Frank McCourt have a $20 billion cash offering to TikTok to buy the app after the Supreme Court upheld federal Congressional law that required the company to sell to an American buyer or face a user ban.
The Associated Press reported on Tuesday that a law firm was advising Recruiter.com Ventures founder and CEO Jesse Tinsley’s TikTok bid. called Jimmy Donaldson – better known as MrBeast – as an interested party in the deal.
Kevin O’Leary says his TikTok bid is the “only” viable option as popular internet creator MrBeast also enters the race. (FOX Business)
Adding to the speculation, Donaldson had posted on X on Jan. 13 that he would “buy TikTok so it doesn’t get banned,” adding the next day that “I’ve had so many billionaires reach out to me since I tweeted this, let’s see if we can make it.”
‘Shark Tank’ investor Kevin O’Leary talks TikTok’s future, the role of the Chinese government with a ‘secret gold stake’ and Trump’s role in keeping the platform available in the US
But a representative for Donaldson confirmed to the Associated Press on Wednesday that MrBeast has not officially joined any bids, saying: “Several buyers are in ongoing discussions with Jimmy … He does not have exclusive agreements with any of them.”
“The only two who can decide what’s going to happen here are (President Donald) Trump and Xi (Jinping). And so Xi hasn’t indicated yet whether he wants to sell it, that’s the next step,” O’Leary expanded . “If he does, everyone is happy with whatever Trump brings back as long as he abides by the laws of Congress and the order of the Supreme Court.”
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Billionaire businessman Frank McCourt details what will happen when his offer with Kevin O’Leary to buy TikTok can be accepted and negotiations with ByteDance begin.
“We’ve been on the Hill this week talking to senators and congressmen about what we have,” added Mr. Wonderful. “We can move it without a single line of Chinese code and allow the Americans to hijack their own data so there’s no leakage. And I hope that’s, at the end of the day, why we’re getting this deal.”
While the future operation and ownership of TikTok remains uncertain, President Trump signed an executive order on his first day in the Oval Office that extends its period of divestment or prohibition 75 days, giving the Chinese social media app more time to decide on a buyer.
