‘Shark Tank’ Star Claims He’s Buying TikTok: Kevin O’Leary Says ‘We’re Doing This’

Kevin O’Leary is working on deal to purchase TikTok’s U.S. business in order to save the social media app. With TikTok set to be banned in the U.S. on Jan. 19 unless Chinese parent company Bytedance can find an American buyer, the Shark Tank star is teaming with former Dodgers owner Frank McCourt in a bid for the business.

O’Leary announced on Jan. 6 that he was joining forces with The People’s Bid for TikTok, an effort led by Project Liberty founder McCourt, in a bid to purchase TikTok’s U.S. assets and rebuild the platform “in a way that prioritizes the privacy of its 170 million American users.”

“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,” O’Leary said in a statement. “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.”

“Together with Frank, we aim to deliver an American-owned platform that safeguards national security while empowering its 170 million U.S. users to thrive,” he continued. “With the January 19 deadline quickly approaching, I’m confident that our shared vision, paired with President-elect Trump’s business acumen, will lead to a deal that benefits everyone.”

Later that day, O’Leary appeared on Fox News’ The Story with Martha MacCallum, saying, “Trump will be who we have to work with to close the deal in the months ahead. So I wanted to let him know, as well as others in his cabinet, that we’re doing this, and we’re going to need their help.”

McCourt also released a statement on Jan. 6 detailing his efforts. “We’ve built a clean, American-made tech stack and continue to be the only viable bidder that can offer a seamless transition for everyone on TikTok without the existing algorithm,” he wrote. “With the addition of Kevin and his countless followers to our bid, The People’s Bid enters a new phase.”

McCourt continued, “Kevin has been a relentless advocate for new ownership of this platform as he understands the enormous opportunity a sale presents for investors, the millions of creators who rely on the platform for their livelihoods, and everyday Americans who love the platform. It’s clear that our visions for a people-centered, American-owned platform are closely aligned, and our combined efforts will give a significant boost to The People’s Bid as the January 19 deadline for a sale of TikTok quickly approaches.”

“Kevin and I, along with the thousands of supporters who have come forward to back The People’s Bid, firmly believe we can build a better TikTok – one that protects our national security and becomes a safe, secure platform that millions of people on the app will trust,” he concluded. “We look forward to working with President-elect Trump to save TikTok.”