Could MrBeast and Billionaires Rescue TikTok from a US Ban?
Recent reports suggest a surprising potential savior for TikTok in the US: MrBeast, alongside a group of unnamed billionaires, is exploring a buyout to avert the app's impending ban. This follows President Biden's April 2024 bill mandating either a US shutdown or sale of TikTok's US operations by its parent company, ByteDance.
While initially dismissed as a joke, MrBeast's January 14th tweet expressing interest in purchasing TikTok has gained traction. Subsequent tweets reveal ongoing discussions with multiple billionaires about making this a reality. The urgency stems from the fast-approaching January 19th deadline imposed by the bill.
The core concern driving the ban is the potential for data shared on TikTok to be accessed by the Chinese government, raising national security and privacy issues, particularly regarding data from minors, according to the Department of Justice. A US-based ownership would theoretically alleviate these concerns.
However, the feasibility of a sale remains highly uncertain. ByteDance has publicly stated, through its lawyer Noel Francisco, that TikTok is not for sale and that any such transaction could face significant hurdles from the Chinese government. While ByteDance previously considered a sale to avoid a ban, this stance appears to have shifted.
The prospect of MrBeast and his billionaire collaborators successfully acquiring TikTok is intriguing but faces significant challenges. Ultimately, the success hinges on whether ByteDance and the Chinese government can be persuaded to approve a deal. The situation remains fluid, with the January 19th deadline looming large.
