The fate of one of the world's most popular social media platforms may rest in familiar hands. As TikTok faces a potential U.S. ban, Donald Trump—the once and future president—has emerged as an unlikely power broker in what could become one of the largest forced tech sales in history.
The stage was set in April when Congress passed legislation giving TikTok's Chinese parent company, ByteDance, an ultimatum: sell or be banned. Now, as the Supreme Court prepares for final appeals in January, a cast of American billionaires is circling with competing visions for the platform's future—and Trump appears poised to play dealmaker once again.
"It's not looking good for TikTok," says Joel Thayer, tech policy lawyer and president of the Digital Progress Institute. The platform's struggles have created what Kevin O'Leary, of Shark Tank fame, calls an "app-ortunity." O'Leary envisions a populist approach, launching a crowdfunding initiative that would allow small business owners to invest as little as $1,000. He's even eyeing expansion to India, which has already banned the app. "First thing, I'll fly to India and talk to Modi ... They can partner with us."
Meanwhile, Frank McCourt, CEO of McCourt Global, is pursuing a different path. Having invested $100 million in Project Liberty, he sees the forced sale as a chance to revolutionize social media. "We've been building the technology for five years," McCourt says. His vision? A platform where users own their data—a stark departure from TikTok's current model.
The stakes are complicated by ByteDance's refusal to include TikTok's prized algorithm in any sale. "There's not a chance in hell it's worth even $35 billion without the algorithm," O'Leary notes, highlighting the challenge facing potential buyers.
Trump's involvement adds another layer of intrigue. During his first term, he orchestrated a deal for Oracle and Walmart to acquire 20% of TikTok—though it ultimately fell through. Now, as he prepares to return to the White House, his pledge to "save" TikTok while addressing national security concerns could prove decisive.
The sale faces significant hurdles, requiring approval from both U.S. regulators and China's Commerce Ministry. But as one source close to the negotiations notes, "This will be something that is purchased with only domestic money"—a statement that underscores the growing divide between American and Chinese tech interests.
As the clock ticks toward the Supreme Court's decision, the question is whether Trump can broker a deal that satisfies both American security concerns and the platform's massive user base.
New York Post contributed to this article.
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