Who might buy TikTok as ban looms
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Illustration: Sarah Grillo/Axios
TikTok faces a Saturday ban if it is not sold to a U.S. owner — déjà vu.
The big picture: At least four groups have made offers to buy the app, but TikTok owner ByteDance would likely need Chinese government approval to sell.
State of play: President Trump signed an executive order on his first day in office delaying the app's ban by 75 days, and the Supreme Court upheld a ruling that the app needs to be sold to an American company or banned.
- As of early March, TikTok's owner and prospective buyers had not yet negotiated a sale. The Chinese government could be willing to let the app shutter in the U.S. rather than concede to a deal.
- Trump on March 26 suggested he'd lower tariffs on Chinese goods if Beijing agreed to a TikTok sale.
- Vice President JD Vance and national security adviser Michael Waltz have been tasked with navigating the potential deal.
Flashback: The bill originally passed with broad bipartisan support and was signed by former President Biden in April 2024.
- Proponents of the ban have argued that the app poses a national security threat because ByteDance, TikTok's parent company, is controlled by the Chinese government and can harvest personal information from American users.
- Opponents challenged the ban, saying it violated their First Amendment rights, which the Supreme Court said didn't apply.
- Trump, despite originally trying ban TikTok via executive order in 2020, vowed to save the app.
Read more about potential buyers:
Frank McCourt and Kevin O'Leary
Shark Tank host Kevin O'Leary and Project Liberty founder Frank McCourt submitted an official proposal to purchase TikTok in January.
- Alongside other investors, the group calls itself the People's Bid for TikTok.
- They would aim to collect less data on users.
By the numbers: McCourt told Axios' Sara Fischer in January that he got $20 billion in commitments to his bid.
MrBeast and Jesse Tinsley
MrBeast, born Jimmy Donaldson joined a bid with Employer.com founder Jesse Tinsley, per CNN.
- "Our offer represents a win-win solution that preserves this vital platform, while addressing legitimate national security concerns," Tinsley said in a January statement. "We're prepared to move quickly and have assembled a team with deep experience in technology, content moderation, and platform governance."
Between the lines: Donaldson had previously considered joining McCourt's bid.
Perplexity
Artificial intelligence engine Perplexity made a bid in January to merge with TikTok, per CNBC.
- Perplexity on March 21 released a vision for the app, which includes building a transparent algorithm, enhancing trust and adding more AI functionality.
What they're saying: "A TikTok rebuilt and powered by Perplexity would create the world's greatest platform for creativity and knowledge discovery," Perplexity said.
Oracle
Software company Oracle has accelerated talks with the White House on running TikTok, Politico reported.
- The deal brings potential national security implications.
- Oracle would oversee Americans' data and ensure the Chinese government can't access it, per Politico. But it's unclear if the U.S. firm would have control over the algorithm.
