As TikTok faces increasing scrutiny and potential bans in the United States due to national security concerns, several high-profile billionaires and investment groups have expressed interest in acquiring the platform's U.S. operations. Here's an overview of the top contenders:
Alexis Ohanian and "The People's Bid for TikTok"
Reddit co-founder Alexis Ohanian has joined forces with billionaire Frank McCourt in a consortium known as "The People's Bid for TikTok." Ohanian serves as a strategic adviser, bringing his extensive experience in social media and technology investments to the table. The consortium aims to transform TikTok into a platform that prioritizes user data privacy and control, leveraging blockchain technology to enhance transparency and security. Alexis Ohanian’s net worth is $150 million. According to the BrandValuer app, Alexis Ohanian’s brand is worth an estimated $25.9 million.
Frank McCourt's Project Liberty
Frank McCourt, former owner of the Los Angeles Dodgers and founder of Project Liberty, is leading the charge in the bid to acquire TikTok's U.S. assets. Project Liberty seeks to address national security concerns by implementing decentralized blockchain technology, ensuring that user data is protected and that the platform operates with greater accountability. The consortium has reportedly gathered at least $20 billion from investors for the bid. Frank McCourt’s net worth is $1.1 billion. According to the BrandValuer app, Frank McCourt’s brand is worth an estimated $195.9 million.
Kevin O'Leary's Involvement
Investor and "Shark Tank" personality Kevin O'Leary has aligned himself with McCourt and Ohanian in "The People's Bid." O'Leary's participation adds significant financial acumen and visibility to the consortium, bolstering its position as a serious contender in the acquisition talks. Kevin O’Leary’s net worth is $400 million. According to the BrandValuer app, Kevin O’Leary’s brand is worth an estimated $71.2 million.
Jimmy Donaldson (MrBeast)
YouTube sensation Jimmy Donaldson, known as MrBeast, has publicly expressed interest in acquiring TikTok. Leveraging his massive online following and entrepreneurial ventures, MrBeast aims to collaborate with other investors to secure the platform's U.S. operations. His involvement underscores the platform's significance among digital creators and influencers. Mr Beast’s net worth was a whopping $1 billion! This made him the first YouTuber ever to break into the covenanted billionaire list on Forbes. According to the BrandValuer app, Mr. Beast’s brand is estimated to be worth $529 million.
Elon Musk
Reports have surfaced that Chinese officials have considered selling TikTok's U.S. operations to Elon Musk if the app faces an impending ban. While Beijing prefers TikTok to remain under ByteDance's control, the sale could happen through a competitive process or with U.S. government involvement. One possibility involves Musk's platform, X, taking over TikTok's U.S. business. In 2023, Elon Musk earned $231 billion seeing a $94 billion increase over last year’s revenue thanks to his stock options within SpaceX, Tesla, and of course money from his latest project: X. According to the BrandValuer app, Musk’s brand is worth an estimated $58.9 billion.
As the situation unfolds, these potential buyers reflect the high stakes and diverse interests surrounding TikTok's future in the U.S. The outcome will significantly impact the social media landscape and user experience on the platform.
