Since Donald Trump returned to the White House, many people have been asking a question that remains unanswered: Will TikTok be sold or banned?
Over the past year, the fate of the popular video-sharing app came into sharp focus as the United States has heavily scrutinized it due to national security concerns. The platform is owned by Chinese tech conglomerate ByteDance.
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When President Trump wanted to see TikTok sold to a U.S. company so that it could remain available to U.S. users, groups of buyers quickly began to surface. Almost every one included high-profile titans of industry, including Shark Tank judge Kevin O'Leary.
O'Leary may not make as many headlines as former Shark Mark Cuban, but he remains a respected figure in the investing community. In an X post, he recently provided an update on his plans to acquire TikTok.
O'Leary wants the world to know where he stands on buying TikTok
Often referred to by his nickname, Mr. Wonderful, O'Leary has been a respected voice in the investment community for many years. A longtime member of the Shark Tank judging panel, he has invested in many startups over the years, garnering a reputation as being frank and honest in his critiques of businesses.
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O'Leary doesn't just maintain that personality on Shark Tank, though. He's never been one to shy away from controversial topics, espousing views that support the trade war with China, even as the tariffs continue to wreak havoc on the global economy.
Right now, though, O'Leary is highly focused on his bid to acquire TikTok, as he recently shared in a TV interview. During an appearance on Fox Business, he emphasized that he wants to finalize a deal, saying he expects an agreement to be reached soon.
O'Leary isn't trying to buy TikTok alone, likely because his net worth wouldn't allow it. Instead, he's opted to team up with real estate mogul Frank McCourt and Reddit co-founder Alexis Ohanian, forming a group that has been dubbed The People's Bid for TikTok, though it is not immediately apparent who "the people" are in this case.
Over the past few months, President Trump has several times pushed back the deadline for TikTok to reach a deal with a buyer to avoid being banned in the U.S. But while O'Leary thinks that pressure is mounting for a sale to be made, he doesn't believe the deadline will be further extended past June 19, 2025.
As O'Leary sees it, an attorney general is likely to decide that the U.S. government can't keep extending the TikTok sale deadline and will sue for the penalty, which would be $5,000 per user times the 172 million TikTok users in the U.S., a tremendous sum that he claims no S&P 500 company could sustain.
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For that reason, O'Leary seems to think ByteDance will take steps to reach a deal with a buyer shortly. He says he is highly motivated to make sure it is sold to his group, stating that they are 100% interested in buying it.
"Frank McCourt and I have been working on this so long, and we're not giving up," he says. "We're like the dog biting your leg right here. We're not going to stop."
The world is watching as it waits to learn the fate of TikTok
O'Leary isn't the only one trying to buy TikTok. Other groups have expressed interest or, in some cases, submitted bids to purchase it. YouTube personality Jimmy Donaldson, known as MrBeast, has formed a group with serial entrepreneur Jesse Tinsley and claims to have made a bid.
Related: Shocking company makes last-minute bid to buy TikTok
President Trump has floated the possibility of TikTok being sold to Oracle founder Larry Ellison or Tesla CEO Elon Musk. However, despite considerable social media speculation, Musk has not expressed any interest in making such a deal.
Prior to the last TikTok deal extension, Amazon submitted a last-minute bid to buy the platform. Fellow tech leader Microsoft and leading venture capital firm Andreessen Horowitz have expressed interest in taking a stake, as has fast-growing startup Perplexity AI.
While O'Leary certainly has plenty of competition for TikTok, he has made it clear he is committed to owning it, regardless of the bids from other parties. With the deadline still a few months away, though, there is still time for a lot to happen as groups and companies maneuver to outbid each other.
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This story was originally published April 25, 2025 at 6:03 PM