O’Leary defends Tik Tok’s offer as ‘only’ viable option now competing with MrBeast
Kevin O’Leary, chairman of O’Leary Ventures, discussed President Donald Trump’s recent billion-dollar investments and several deals on the future of TikTok.
While internet giant MrBeast is reportedly set to enter the TikTok sales platform, “Mr. Wonderful” is eyeing the deal as the best and most viable option for the Chinese-owned social platform.
“It’s not too worrying, but the difficult part is on pages five and six of the order from the Supreme Court two Fridays ago, specifically, one line of code from an algorithm from China cannot be used. That’s it. 5 billion codes that no one can use,” said Kevin O’Leary at “Varney & Co.” He explained on Thursday.
“So now it’s back to which group – I don’t care how many people have announced this – has the technology to support this. And as far as I know, it’s just the McCourt-O’Leary bid. We have the technology.”
O’Leary and billionaire entrepreneur Frank McCourt made a $20 billion cash offer for TikTok to buy the app after Congress passed a federal law requiring the company to transfer to a US regulator or face a user ban.
Kevin O’Leary warns TikTok’s fate could be decided by ‘secret golden share’ giving Beijing ‘veto’ power
The Associated Press reported on Tuesday that Jesse Tinsley, founder and CEO of law firm Recruiter.com Ventures, is recommending TikTok’s offer. His name is Jimmy Donaldson – better known as MrBeast – as an interested party in the deal.
Kevin O’Leary said Tik Tok’s offer was the only option as mega-popular internet creator MrBeast had reportedly entered the race. (FOX Business)
Adding to the speculation, Donaldson posted on X on Jan. 13, “Buy Tiktok to avoid being banned,” adding the following day, “I’ve gotten a lot of billionaires since I tweeted this. , let’s see if we can pull this off.”
‘Shark Tank’ investor Kevin O’Leary talks about TikTok’s future, the role of the Chinese government in its ‘secret golden stake’ and Trump’s role in keeping the platform alive in the US.
But a Donaldson representative confirmed to The Associated Press on Wednesday that Mr. Best had not officially joined any bids, adding that “several potential buyers are in ongoing discussions with Jimmy …
“The only two who can decide what happens here are (President Donald) Trump and Xi (Jinping). And so if Xi wants to sell, he hasn’t said yet, that’s the next step,” O’Leary expanded. If he does, Trump is happy with whatever comes his way, as long as everyone respects the laws of Congress and the orders of the Supreme Court.
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Billionaire entrepreneur Frank McCourt has detailed what will happen when he and Kevin O’Leary’s proposal to buy TikTok is accepted and they enter into negotiations with ByteDance.
“We’ve been going to the Hill this week and talking to senators and members of Congress about what we found,” Mr. Dunful added. “We can move without a single line of Chinese code and let the Americans keep their own data so there’s no flow. And I hope that (at the end of the day) is why this deal comes to us.”
Although the future of TikTok’s operations and ownership remains uncertain, President Trump signed an executive order on his first day in the Oval Office that extended the delisting or ban deadline by 75 days, giving the Chinese social media app more time to decide on a buyer.