Kevin O’Leary is talking about buying TikTok again, but this time with more specifics.
The social media app is less than two weeks away from facing a potential ban, although the Supreme Court is expected to decide whether TikTok and its China-based parent company ByteDance can grant a stay on January 10, 2018. 19 deadline.
In April, US lawmakers passed a bill forcing ByteDance to sell TikTok, even though the company has repeatedly said it is not for sale and would prefer to shut it down.
Related: Meta cut, looming TikTok ban has creators questioning how much of their business they really control
Still, that didn’t deter O’Leary, aka “Mr. Wonderful.”
This week, O’Leary announced that he is joining billionaire and former LA Dodgers owner Frank McCourt in a plan to buy the social network. McCourt launched Project Liberty in 2021 to help build and defend a safer and fairer internet, according to its website.
In May, McCourt announced that Project Liberty was “forming a consortium to buy TikTok and rebuild the platform to control people’s digital identities and data,” known as the “People’s Bid for TikTok.”
“We’ve built a clean, American-made tech stack and continue to be the only credible contender to offer a seamless transition for everyone on TikTok without the existing algorithm,” Project Liberty founder Frank McCourt said in a press release. “With the addition of Kevin and his countless followers to our offering, People’s Proposition enters a new phase.”
Project Liberty’s investor group has committed more than $20 billion in capital, according to a spokeswoman.
O’Leary has been talking about wanting to buy TikTok since March 2024, after news of a potential ban broke. He told Fox & Friends that month, “If this order goes through, it’s going to have to sell. I’m going to put my hand up and say I’m going to buy it.”
“It’s the biggest entertainment and business network in America right now, so it’s a great interest and a great value,” O’Leary said last March.
McCourt also noted that he is looking forward to “working with President-elect Trump to save TikTok.”
“Kevin and I believe that together with the thousands of supporters who came forward to support The People’s Bid, we can build a better TikTok — one that protects our national security and becomes a safe, secure platform that millions of people use and trust in the app,” McCourt said.
Related: Remote Work Enthusiast Kevin O’Leary appears in his TV Appearance in a suit jacket, tie and pajamas
In a news appearance this week, O’Leary spoke about her proposal for the app in her signature pink pajama pants and flip-flops.