Will Kevin O’Leary save TikTok from US ban? Shark Tank’s ‘Mr Wonderful’ bids to buy social media app with Trump’s help

Just days ahead of the impending ban on the Tik-Tok in the United States, Kevin O'Leary, a businessman and Shark Tank investor is planning to buy the short-video app with the help of President-elect Donald Trump.

Kevin O'Leary expressed his desire to by the app while appearing on Fox News' The Story with Martha MacCallum on Monday.

However, the 70-year-old businessman insisted that acquiring ownership would need a help of Donald Trump.

“This is a very complicated deal. It’s a multi-billion dollar deal. We are going to have to work with President Trump,” reported The Sun newspaper, quoting the investor.

He further added that Trump will be who they 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.”

The development comes amid Trump highlighting a suggestion by Kevin O'Leary advocating for a potential merge of Canada and the United States.

Further, in a post on X, Kevin who is also known as ‘Mr. Wonderful,’ said, “I’m excited to share that I’m partnering with Frank McCourt and the visionary team at @pro_jectliberty to lead The People’s Bid for TikTok!”

Here's what Kevin O'Leary said in a post on X

— The move isn’t just about buying TikTok’s US assets. It’s about something much bigger: protecting the privacy of 170 million American users.

— It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms

— TikTok has immense potential, not just as a tool for creators but as a driver of meaningful economic and social impact.

— Together, we’re working to create an American-owned platform that is secure, innovative, and puts YOU in control of your data and digital relationships.

Meanwhile, Project Liberty founder Frank McCourt said that Kevin has been a relentless advocate for new ownership of the 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.

On Friday, the US Supreme Court is set to hear arguments from TikTok and its China-based owner ByteDance, which is seeking to block a law signed by President Joe Biden.

TikTok’s 170 million users in the US, however, are likely to be able to use the app because it is already downloaded on their phones, reported Reuters quoting experts.