Kevin O'Leary, the "Mr. Wonderful" of Shark Tank, is calling for U.S.-based TikTok entrepreneurs to get a stake in the platform's planned $14 billion U.S. sale, arguing they helped build the social media giant.
O'Leary Highlights TikTok's Entrepreneurial Power
On Thursday, O'Leary shared a video on social media, highlighting TikTok's role as a launchpad for millions of small businesses.
"TikTok isn't just a social app; it's 7 million small businesses built from scratch," he said. "That's why I'm pushing for them to get a slice of the ownership through the Jobs Act."
In the video, O'Leary explained that countless TikTok users have leveraged the platform to acquire customers and sell products at low costs, essentially functioning like Shark Tank entrepreneurs.
"TikTok needed Shark Tank, so to speak and Shark Tank needed TikTok. They grew up together and I really want to see those Shark Tankers get a piece of the deal, even if it’s only a couple thousand bucks," he added.
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The $14 Billion TikTok US Sale
O'Leary's statement comes after, in September, President Donald Trump signed an executive order approving the U.S. operations sale, valuing TikTok at $14 billion.
The transaction is structured to satisfy national security concerns, with ByteDance retaining less than a 20% stake and Oracle Corp (NYSE:ORCL), Silver Lake and Abu Dhabi's MGX investment fund collectively controlling around 45%.
O'Leary proposed carving out $500 million to $1 billion of the purchase price to allow U.S.-based TikTok entrepreneurs to invest alongside institutional investors, a move he said would be fair and feasible under the Jobs Act.
Navigating Regulatory And International Hurdles
While the deal reportedly has Trump and Chinese President Xi Jinping's conditional support, key regulatory and security questions remain.
Lawmakers, including House China John Moolenaar (R-Mich.), have requested briefings to ensure the algorithm and technology can be safely managed under U.S. ownership.
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