Shark Tank’s Mr. Wonderful Puts $20 Billion Cash On The Table To Buy TikTok [WATCH]

Billionaire investor and Shark Tank star Kevin O’Leary has announced a $20 billion cash offer to purchase TikTok, the popular social media platform owned by Chinese company ByteDance.

With over 170 million U.S. users, TikTok faces a looming ban unless it is sold to a non-Chinese entity, following a bipartisan push in Congress to address national security concerns.

The U.S. Supreme Court upheld the legislation mandating ByteDance to divest TikTok’s U.S. operations.

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The court ruled on Friday night that divestiture was necessary to mitigate security risks tied to TikTok’s data collection practices and its links to a “foreign adversary.”

In its opinion, the court stated, “There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community. But Congress has determined that divestiture is necessary to address its well-supported national security concerns.”

The ban, which took effect Sunday, prohibits U.S.-based app stores and hosting services from supporting TikTok.

While Joe Biden has indicated he will not enforce the ban during his remaining days in office, the decision may fall to President-elect Donald Trump, who previously advocated for the platform’s sale to an American company.

Kevin O’Leary has positioned himself as a leading contender to acquire TikTok, emphasizing the urgency of striking a deal.

Appearing on Fox News’ America’s Newsroom, O’Leary stated, “Right now, $20 billion’s on the table. Cash.”

He acknowledged the rationale behind the Supreme Court’s ruling, noting, “There’s a reason they ruled in favor of it. It’s not worth taking the risk. The obvious solution is to sell it to an American syndicate as per the order.”

O’Leary also proposed forming a bipartisan advisory committee to oversee the transition, saying, “What I would do is form a bipartisan committee, an advisory committee for 18 months, and go to them to determine how much of the Chinese stake should be retained.”

The investor warned of severe financial penalties if the ban takes effect without a sale, stating,

“As of midnight on the 19th, any service provider—Apple, Oracle, or others—keeping TikTok operational would face fines exceeding $1 billion per day.”

Reports from Bloomberg suggest that Chinese officials are considering Elon Musk, the owner of X (formerly Twitter), as a potential buyer for TikTok’s U.S. operations.

The proposed deal would merge TikTok with Musk’s platform to boost its appeal to advertisers.

However, discussions remain in the preliminary stages, and it is unclear if ByteDance or Musk have been directly involved.

The Chinese government, which holds a “golden share” in a ByteDance affiliate, retains the authority to approve any sale, as their regulations require government consent for transferring algorithmic technologies like TikTok’s.

China’s influence over ByteDance and its potential role in negotiating a sale with the Trump Administration introduces significant hurdles.

President-elect Trump has vowed to implement stricter tariffs on Chinese goods and close trade loopholes, signaling a challenging path forward for any negotiations involving TikTok.

Meanwhile, Chinese officials must navigate both internal and external pressures to finalize a path forward for ByteDance and its flagship app.

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