Jimmy Donaldson – aka MrBeast – was jubilant as he instructed his tens of tens of millions of TikTok followers about his bid to purchase the platform.
“I’d turn into you guys’ new CEO! I am tremendous excited!” Donaldson mentioned from a personal jet. He then proceeded to vow $10,000 to 5 random new followers.
The web creator’s submit has been seen greater than 73 million occasions since Monday. Donaldson mentioned he couldn’t share particulars about his bid, however promised: “Simply know, it is gonna be loopy.”
Donaldson is one in every of a number of suitors who’ve expressed curiosity in buying TikTok, the wildly well-liked social media platform that is turn into the topic of a fast-moving political drama in the US.
Final yr, then-President Joe Biden signed a legislation that gave TikTok’s China-based mum or dad firm ByteDance till 19 January to promote the platform or face a ban in the US.
The laws addressed issues about TikTok’s hyperlinks to the Chinese language authorities and worries in regards to the app being a nationwide safety threat.
President Donald Trump has floated the potential for a three way partnership.
“I would love the US to have a 50% possession place,” he mentioned in a Fact Social submit on Sunday. “By doing this, we save TikTok, hold it in good palms and permit it to [stay up].”
Trump has since signed an govt order that enables the app to remain operational for one more 75 days.
Earlier this month, Bloomberg reported that China was contemplating a TikTok sale to Elon Musk, the world’s richest man and a detailed ally of President Trump, who already owns the social media platform X.
Musk himself wrote on X this week that whereas he has lengthy been in opposition to a TikTok ban, “the present state of affairs the place TikTok is allowed to function in America, however X shouldn’t be allowed to function in China is unbalanced. One thing wants to alter”.
At a information convention Tuesday, Trump was requested by a reporter if he could be open to Musk shopping for the platform.
“I’d be if he wished to purchase it, sure,” the president replied.
“I would like Larry to purchase it, too,” Trump added, referring to Oracle chairman Larry Ellison, a long-time Trump supporter who was on stage with him for a separate announcement.
Oracle is one in every of TikTok’s major server suppliers, managing most of the knowledge centres the place billions of the platform’s movies are saved.
Final yr, Oracle warned {that a} TikTok ban might damage its enterprise. The cloud computing big was additionally a number one contender to purchase the social media platform in 2020, again when Trump was attempting to ban it.
Billionaire investor Frank McCourt has additionally expressed curiosity in TikTok, and has been doing media interviews in regards to the prospect for a number of months.
McCourt has mentioned he desires TikTok to run on know-how overseen by the Venture Liberty Institute, which he based. He has been essential of knowledge assortment practices of social media corporations.
Venture Liberty is bidding for TikTok with out its proprietary algorithm. McCourt told CNBC this week that Venture Liberty is “not within the algorithm or the Chinese language know-how” whilst he acknowledged that the platform is “value much less” with out it.
Finally, President Trump is more likely to have a significant function in choosing a US purchaser of TikTok.
“It should be a winner that is more likely to be politically sympathetic to President Donald Trump,” mentioned Anupam Chander, a legislation professor at Georgetown College.
Prof Chander mentioned the 50-50 joint possession mannequin doesn’t comport with the legislation’s necessities, which could immediate Trump to stress Congress into revising the legislation.
For now, the platform’s future stays in limbo.
Prof Chander mentioned the Biden administration made an “unforced error” by permitting the legislation to present the president outsized management over who owns TikTok.
“It was a horrible concept to place the way forward for an enormous info platform into this political maelstrom,” Prof Chander mentioned.
