A billionaire wants to buy TikTok. The offer looks serious
Not a day goes by without news about TikTok. This time it's about taking it over. Real estate tycoon, billionaire Frank McCourt, is keen on purchasing the app. He has already announced that he is gathering a group of specialists to support him in the purchase of the company's American branch.
The billionaire's statement follows the recent confusion surrounding TikTok's ban in the US app market. It will be banned in the US unless sold within a year. ByteDance therefore sued the US government and the case is ongoing. However, TikTok itself has stated that it does not intend to sell its platform to anyone for now.
However, the millionaire is very eager and optimistic about the potential purchase of the app.
We thought this was a really fantastic opportunity to accelerate the creation of an alternative version of the internet
McCourt told the Associated Press
Frank McCourt is a 70-year-old billionaire and real estate tycoon. His fortune was estimated at $1.4 billion according to Forbes. So whoever, but he may be planning to buy TikTok, and his dreams have a good chance of becoming a reality. The potential purchase would be made through Project Liberty, an online group founded by the 70-year-old in 2021. It is dedicated to protecting data privacy. The planned purchase is supported by famous technologists, including Tim Berners-Lee.
Frank McCourt is a serious player on the market, he made his money in real estate and sports. He was the owner of the Los Angeles Dogers. If he decides to sell, he has a good chance of buying TikTok. Especially since the list of potential investors is not very long. His advantage over his rivals is that he can actually afford to buy it and has some vision for it. Moreover, McCourt is the only bidder who does not want to buy the TikTok algorithm, because he plans to rebuild its structure and create something absolutely new.
What is the price of TikTok?
The price of the application is not mentioned anywhere. However, it is possible that the price without the algorithm will be within the interested party's reach.
See: Will the EU ban TikTok Lite?
