Shark Tank’s “Mr. Wonderful” aims to democratize TikTok and protect user data
Canadian businessman Kevin O’Leary has teamed up with Project Liberty, a consortium led by U.S. billionaire Frank McCourt, in a bold attempt to acquire TikTok’s U.S. assets ahead of a potential nationwide ban. The move comes as the U.S. Supreme Court deliberates on a law that could force TikTok’s sale or ban its operations starting January 19.
O’Leary and Project Liberty submitted their proposal to ByteDance, TikTok’s parent company, emphasizing the need to preserve the platform’s vibrant community while prioritizing user data protection. Dubbed “The People’s Bid,” the initiative aims to migrate TikTok’s user base to an American-built digital infrastructure that prioritizes privacy, trust, and user empowerment.
“This is the bid that can save TikTok,” O’Leary said in a statement. “Project Liberty has the vision, people, and technology to prevent a ban while giving users control over their data.”
McCourt echoed this sentiment, stating, “By keeping the platform alive without relying on its current algorithm, millions of Americans can continue enjoying TikTok safely.”
Despite the consortium’s ambitious bid, ByteDance has repeatedly stated that TikTok is not for sale. The U.S. Supreme Court heard arguments on Friday regarding the proposed ban, with preliminary reporting suggesting the court may uphold the law requiring TikTok’s sale or ban.
TikTok has challenged the legislation, arguing that it violates First Amendment rights. A decision is expected soon.
In an interview posted to social media, O’Leary highlighted his plan to grow TikTok’s U.S. user base from 170 million to over 200 million by restoring trust through democratization and transparency.
“This isn’t about free speech or entertainment—it’s about addressing concerns over Chinese spyware and giving people ownership of the platform,” said O’Leary. “We want to make TikTok wonderful again.”
Founded in 2019 by Frank McCourt, Project Liberty seeks to empower individuals by rearchitecting digital platforms to prioritize user control and data security. Their vision for TikTok aligns with this mission, promising a seamless transition to new infrastructure that minimizes disruption for users while ensuring privacy and trust.
Meanwhile, TikTok faces its own battles in Canada. The federal government recently ordered the shutdown of TikTok Canada’s operations in Toronto and Vancouver following a national security review. TikTok has filed a legal challenge, arguing the closure would impact more than 14 million Canadian users and hundreds of local employees.
The Canadian government cited risks associated with ByteDance’s operations, with Minister François-Philippe Champagne stating the decision was made under the Investment Canada Act to address national security concerns.
As TikTok’s future hangs in the balance, Kevin O’Leary’s partnership with Project Liberty represents a high-stakes effort to secure the platform’s U.S. operations while addressing security concerns. With the Supreme Court decision imminent, all eyes remain on the outcome of this legal and business battle.