TikTok Buyout Race Heats Up: MrBeast, McCourt Lead Potential Bidders as 'Non-Sale' Option Surfaces
TikTok faces multiple potential buyers as it remains banned from major app stores following President Biden's federal ban in April 2024. The social media platform must find a suitable buyer to avoid hefty fines for American tech companies.
MrBeast bidding on TikTok content
YouTube star MrBeast (Jimmy Donaldson) expressed interest in purchasing TikTok to prevent its ban. While several billionaires have approached him, his spokesperson Matthew Hiltzik confirmed no formal bid has been made yet, though discussions are ongoing with multiple buyers.
An investor group led by Jesse Tinsley has already proposed an all-cash offer for TikTok's U.S. operations. Separately, billionaire Frank McCourt's Project Liberty consortium offered to share ownership, provided TikTok operates on their Decentralized Social Networking Protocol (DSNP).
The situation became urgent after the Supreme Court upheld the federal ban, with Apple and Google removing TikTok from their app stores. Any downloads after January 19 could result in $5,000 fines per download.
ByteDance, TikTok's owner, is exploring alternatives to maintain U.S. operations without selling the company. Board member Bill Ford mentioned at the World Economic Forum in Davos that they're seeking solutions involving potential control changes while retaining ownership.
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