January 17, 2025 12:13pm EST
Kevin O'Leary puts $20B TikTok cash offer on the table: 'Most interesting, complicated, crazy situation'
Supreme Court upholds federal law banning the Chinese-owned app unless it sells to US buyer
By Kristen Altus FOXBusiness
It’s a deal that TikTok may not be able to refuse: $20 billion in cash from popular entrepreneur and "Shark Tank" investor Kevin O’Leary.
"Right now, $20 billion’s on the table. Cash," O’Leary said Friday on "America’s Newsroom," just minutes after the U.S. Supreme Court upheld a law requiring the Chinese-owned company to sell or be banned.
"There's a reason that Congress put this order in front of the Supreme Court. There's a reason they ruled in favor of it. It's not worth taking the risk," he continued. "And so the obvious solution is to sell it to an American syndicate as per the order."
In its decision, the Supreme Court backed the Protecting Americans from Foreign Adversary Controlled Applications Act, a law passed by Congress last April with wide bipartisan support. The law gave TikTok nine months to either divest from its Chinese parent company, ByteDance, or be removed from U.S.-based app stores and hosting services.
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https://www.foxbusiness.com/media/kevin-oleary-puts-20b-tiktok-cash-offer-table-most-interesting-complicated-crazy-situation