As the clock ticks down on ByteDance’s deadline to sell or face a ban, multiple potential buyers are emerging for TikTok, including MrBeast, Elon Musk, and Larry Ellison.
The fate of popular social media platform TikTok remains uncertain as multiple potential buyers have expressed interest in acquiring the app.
The platform’s China-based parent company, ByteDance, has until 19 January to sell or face a ban in the United States.
Launched in China in 2016 as Douyin, TikTok has since become a global social media sensation.
Owned by ByteDance, the app allows users to create and share short-form videos up to 60 seconds.
With over a billion active users, TikTok has surpassed Twitter and Snapchat in popularity.
The app's algorithm-driven 'For You' page showcases content based on user preferences, making it easy for creators to go viral.
As of 2022, TikTok is available in over 154 markets and offers 30 different languages.
MrBeast Throws His Hat into the Ring
Jimmy Donaldson, aka ‘I don’t like being called MrBeast’ (he prefers not to be referred to as ‘MrBeast’), has announced his bid to buy TikTok, leaving many of his tens of millions of followers excited about the prospect.
In a recent post, Donaldson promised $10,000 to five random new followers and hinted at significant changes if he were to become the platform’s CEO.
Jimmy Donaldson, known as MrBeast, is a American YouTube personality and philanthropist.
He initially gained fame on the platform in 2012 with comedic videos, but shifted focus to giving away large sums of money and performing outrageous stunts.
Since then, he has donated over $100 million to various causes, including scholarships, food banks, and environmental conservation efforts.
His unique approach to philanthropy has made him one of the most popular YouTubers, with over 100 million subscribers.
Elon Musk and Larry Ellison Also in the Running
Elon Musk is a South African-born entrepreneur, inventor, and business magnate.
He is best known for his innovative ventures in technology, energy, and space exploration.
Musk co-founded PayPal, which was later sold to eBay for $1.5 billion.
He then went on to found SpaceX, with the goal of reducing space transportation costs and enabling humanity's multiplanetary existence.
Musk also founded Tesla, Inc., which has become a leading electric vehicle manufacturer.
Additionally, he is involved in The Boring Company, Neuralink, and SolarCity, among other ventures.
The billionaire owner of X, Elon Musk, has been mentioned as a potential buyer for TikTok.
According to reports, China is considering selling the app to Musk, who already owns social media platform X.
Meanwhile, Oracle chairman Larry Ellison, a long-time Trump supporter, has also expressed interest in purchasing TikTok.
Frank McCourt‘s Proposal
Billionaire investor Frank McCourt has also thrown his hat into the ring, proposing that TikTok run on technology overseen by the Project Liberty Institute, which he founded.
However, McCourt has acknowledged that the platform is ‘worth less’ without its proprietary algorithm.
The Role of President Trump
Ultimately, President Donald Trump is likely to have a major role in selecting a US buyer for TikTok.
According to law professor Anupam Chander, the president’s preference will likely be a company that is politically sympathetic to his administration.
However, Chander also notes that the 50-50 joint ownership model proposed by Trump may not comply with the law’s requirements.
The Future of TikTok Remains Uncertain
As the clock ticks down on ByteDance‘s deadline to sell or face a ban, the future of TikTok remains in limbo.
With multiple potential buyers and a president with significant influence over the decision-making process, it is unclear what the outcome will be.
