In a recent interview on Fox Business, Kevin O’Leary, also known as “Mr. Wonderful” from Shark Tank, proposed a bold solution for the future of TikTok, the popular social media app with ties to the Chinese Communist government. He suggested “Americanizing TikTok” by purchasing the app with the help of crowdfunding investors. O’Leary described the opportunity as “extraordinary” and emphasized the potential for huge returns on this “legacy deal.”
O’Leary dismissed other alternatives, including a 2022 proposal by TikTok to offer some control to the U.S. government. He criticized this plan as a “Chinese-style solution” and strongly rejected any suggestion that the government should have the power to shut down apps over content they deem inappropriate. He also dismissed the idea that TikTok could win in court against a recent law that would either force a sale of the app or ban it from the country. O’Leary was confident that this lawsuit would not be successful, “even at the Supreme Court.”
Instead, O’Leary pitched his idea to Fox Business viewers. “That’s why those of us interested in buying it are starting the process now,” he stated before promoting his website, wondertiktok.com. He encouraged Americans to participate in the crowdfunding effort and revealed that the majority of the funds would come from sovereign wealth. He acknowledged that getting approval from both President Joe Biden and the Chinese Communist Party would be challenging, but he remained determined. “I want to support Americanizing TikTok. I want to make TikTok wonderful again. That’s exactly what is going to happen if I do this deal,” O’Leary declared.
Before his Fox Business interview, O’Leary announced on X that he had a plan to purchase TikTok. In his post on May 28, he stated, “The clock is ticking on TikTok. Congress has passed a law that gives it less than 270 days to sell to interests that are governed by US laws or be shut down.” He also revealed his intention to “democratize TikTok,” protecting user data from foreign adversaries. O’Leary invited others to join him in making TikTok “wonderful again.”
Overall, O’Leary’s plan to “Americanize TikTok” through a crowdfunding effort and sovereign wealth raises both excitement and skepticism. As the deadline for TikTok’s sale approaches, it remains to be seen if O’Leary’s proposal will come to fruition. However, one thing is for sure: if he succeeds, TikTok will once again be “wonderful” in the eyes of many Americans.