Kevin O’Leary Signals Eye-Popping Sum Of Cash On The Table To Buy TikTok

Investor Kevin O’Leary said on Friday that he is willing to pay tens of billions of dollars for TikTok, the social media app that the U.S. Congress passed a law to force the sale of due to its control by the Chinese Communist Party.

“As of midnight on the 19th, any service provider — that could be an Apple, that could be an Oracle, it could be a video compression technology company that’s being paid as a consulting service, any of them — to keep this thing alive, it’s subject to [a] $5,000 a day fine times 170 million,” he said. “That’s over $1 billion a day.”

“So as of right now, unless the company enters into an agreement to be purchased by an American syndicate — and Biden, who’s the executive right now, waives for 90 days — this thing goes dark at midnight because who’s going to take on a billion risk at midnight?” he continued. “Who’s going to do that? What counsel would advise that? This is the most interesting, complicated, crazy situation I’ve ever been involved in. I’m really excited about it.”

When asked by Fox News host Bill Hemmer what the price tag was to buy the social media company, O’Leary responded that he was willing to pay $20 billion for it.

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“Right now, $20 billion is on the table — cash, cash,” he said. “$20 billion.”

It was unclear what other investors were involved in the potential purchase of the social media app.

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