Canadian businessman, Kevin O’Leary offers $20B cash to buy TikTok

Canadian businessman and, Investor Kevin OLeary, has offered TikToks owners $20 billion in cash to buy the platform. Recall a bipartisan bill, which President Biden signed, called TikTok a threat to national security and forced ByteDance, the platforms Chinese parent company, to divest from the platform or sell it in order for TikTok to remain in American app stores. ByteDances deadline is Sunday.  The Supreme Court ruled Friday on TikToks challenge to the law, upholding the ban During a Friday appearance on Fox Newss Americas Newsroom, OLeary made note of the fines that could be in store for any provider that allows access after the deadline. As of midnight on the 19, any service provider that could be an Apple, that could be an Oracle, it could be a video compression technology company thats being paid as a consulting service, any of them that keep this thing alive is subject to $5,000 a day fine times 170 million, OLeary told anchor Bill Hemmer in the interview. Thats over a billion dollars a day. We dont know if an executive order can override a law from Congress. Theres a case in 1937 that was used successfully, but you dont know. OLeary went on to say he an offer of  $20 billion to buy the social media platform, which boasts 170 million U.S. users.  Right now, $20 billion is on the table, cash, cash, $20 billion, OLeary said touting his bid at the conclusion of the call-in. He said hes waiting to see if the offer is enough. The post Canadian businessman, Kevin OLeary offers $20B cash to buy TikTok appeared first on Linda Ikeji Blog.