Kevin O'Leary Joins The People's Bid For TikTok As Pending Ban Looms

Investor and entrepreneur Kevin O'Leary, known for his appearances on "Shark Tank," announced on Monday he joined forces with The People's Bid for TikTok in an attempt to purchase the social media platform before the Jan. 19 deadline for a sale. 

The Details: O'Leary declared the move in a press release stating he would join The People's Bid for TikTok led by Project Liberty founder Frank McCourt. O'Leary's previous attempt to buy TikTok, a crowdfunding effort, would be folded into The People's Bid for TikTok. 

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“Joining The People’s Bid for TikTok is an opportunity to take action on an issue I’m deeply passionate about — protecting privacy and creating value for users,” said Kevin O’Leary. 

“TikTok has immense potential — not just as a tool for creators and businesses, but as a cornerstone of a more secure, people-centered digital future," O'Leary added. 

O'Leary also announced his partnership with The People's Bid for TikTok on the social media platform X. 

I'm excited to share that I'm partnering with Frank McCourt and the visionary team at @pro_jectliberty to lead The People's Bid for TikTok!

This isn't just about buying TikTok's U.S. assets. It's about something much bigger: protecting the privacy of 170 million American users.… pic.twitter.com/kzxk5RfEgY

— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) January 6, 2025

What Else: The Supreme Court is set to hear arguments on Friday on whether the proposed TikTok ban violates the First Amendment. Congress passed the ban with bipartisan support earlier this year and President Joe Biden signed it into law in April. 

The law requires TikTok's parent company, ByteDance, to divest its U.S. operations by Jan. 19 or face removal from app stores in the U.S. 

President-elect Donald Trump originally supported a ban of TikTok, but has since changed his stance on the issue and has requested the deadline for divestiture be extended.

Trump's attorney, D. John Sauer, said Trump is not taking a stance on the case's merits but would like the opportunity to seek a political solution. 

"He respectfully requests that the Court consider staying the Act's deadline for divestment of January 19, 2025, while it considers the merits of this case, thus permitting President Trump's incoming administration the opportunity to pursue a political resolution of the questions at issue in the case,” Sauer said. 

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