Kevin O’Leary considers acquiring TikTok despite potential ban

According to The Hill, Kevin O’Leary, a well-known investor from “Shark Tank,” has suggested that he may acquire TikTok if a proposed ban goes through.

During an interview on Fox News, O’Leary confidently stated, “Not going to get banned, ’cause I’m gonna buy it.”

The discussion comes as lawmakers in the House aim to pass a bill that would ban TikTok unless its parent company, ByteDance, sells it. The bill, led by Reps. Mike Gallagher and Raja Krishnamoorthi, aims to address concerns about the app’s ties to China and potential national security risks.

Under the proposed legislation, ByteDance would have 165 days to sell TikTok or face consequences, including making the platform unavailable for download on major app stores like Apple and Google.

O’Leary highlighted TikTok’s value as an advertising platform, stating, “This is worth billions; it’s one of the most successful advertising platforms in social media today.”

TikTok and its supporters have criticized the proposed ban, with a spokesperson arguing that it infringes on free speech and negatively affects millions of Americans and small businesses using the platform.

Last year, a Republican-backed bill to ban TikTok faced opposition from Democrats. President Joe Biden has signaled his support for the current bill if it passes through Congress.