Shark Tank’s Kevin O’Leary is ready to put up $20 billion to save TikTok. As the clock ticks toward Sunday’s deadline, the famous investor revealed his shocking offer. Speaking on Fox News with Bill Hemmer, O’Leary made it clear: “$20 billion, cash, right now.”
But will that be enough? O’Leary admits he doesn’t know. The situation, though, is critical. If TikTok isn’t sold by Sunday, it faces an imminent ban. The video app is facing intense scrutiny, particularly due to its ties to China. If a new owner steps in, they will also face the daunting risk of over a billion dollars in daily fines.
A wild situation
“This is crazy. This is the most complicated thing I’ve ever dealt with,” O’Leary said. “Who’s going to take on a $1.7 billion risk? What counsel would advise that?”
As the deadline approaches, uncertainty looms over TikTok’s future. The U.S. Supreme Court recently ruled in favor of allowing the ban, signaling a potentially grim outcome for the app. TikTok tried to fight back in court, but their efforts failed. Lower courts rejected their appeal, and the Supreme Court sided with the government.
The law in question, passed by Congress, requires the Chinese parent company, ByteDance, to sell its stake in TikTok by January 19, 2025, or the app will be banned. The U.S. government cites national security concerns over the vast data TikTok collects from its millions of American users.
The deadline is looming
With the deadline fast approaching, the future of TikTok hangs in the balance. O’Leary’s $20 billion offer may seem high, but it could be just the start. As TikTok faces mounting legal pressure, it’s clear that a sale could save the app, but it won’t be without complications.
The clock is ticking. In less than 72 hours, TikTok could be forced offline. The possibility of a ban raises questions not just about the app itself but about the millions of Americans who rely on it.
Americans are worried
Around 170 million Americans use TikTok, and many are concerned about what a ban would mean for their businesses and livelihoods. Influencers, content creators, and small businesses that depend on the platform are particularly vulnerable.
TikTok stars like Madilynn Cameron, with 1.1 million followers, and Kylie Park, with almost a million, expressed their frustration over the situation. In a tearful video, Park said, “This is my safe space. I come here when I need a break from anything.” The potential loss of TikTok isn’t just about money for these creators; it’s about the emotional toll and the loss of their community.
The Supreme Court’s ruling
Despite TikTok’s legal battles, the Supreme Court’s decision on January 10 made it clear that the ban would likely take effect. The Court determined that the law was “content neutral,” targeting the foreign ownership of the platform rather than limiting free speech. The ruling came as a blow to TikTok and its supporters, leaving little room for further legal challenges.
For TikTok, this was a setback in their battle to stay online. The Supreme Court’s ruling means that, unless a sale happens before the deadline, TikTok faces a forced shutdown.
President-elect Trump’s role
Now, all eyes are on President-elect Trump. During a CNN interview, Trump stated that the fate of TikTok would ultimately be in his hands. With TikTok’s CEO, Shou Zi, scheduled to attend Trump’s inauguration, the coming days may hold critical decisions about the app’s future.
However, whether the incoming administration will act swiftly to negotiate a sale remains uncertain. For now, the deadline looms, and the stakes are high.
TikTok creators speak out
In the wake of the Supreme Court ruling, TikTok creators have taken to social media to express their distress. Emily Senn, a cruise ship singer with 350,000 followers, posted a heartfelt video, vowing never to trust the U.S. government again. “You took away millions of people’s income and livelihoods,” she said, tears streaming down her face.
For these creators, TikTok isn’t just a platform; it’s their career. The potential loss of the app is more than just a setback—it’s a personal crisis. Many argue that social media content creation, especially on TikTok, is as legitimate a job as any other.
What’s next?
As the weekend approaches, the pressure is on. O’Leary’s $20 billion offer could be a game-changer, but time is running out. TikTok, already facing legal and financial challenges, is under a serious threat of being banned in the U.S.
The fate of the app, and millions of its users, now depends on whether a deal can be made before Sunday. If not, TikTok could go dark, leaving its future uncertain. Will O’Leary’s offer be enough to save TikTok? Or will the app vanish from our screens forever? Only time will tell.
