Kevin O'Leary offers $20 billion to buy TikTok amid national security concerns

Investor and "Shark Tank" star Kevin O'Leary has made a bold move, offering $20 billion in cash to buy TikTok. 

O'Leary shared this proposal during a Friday appearance on Fox News’s “America’s Newsroom,” as TikTok faces mounting pressure due to national security concerns.

TikTok’s Chinese parent company, ByteDance, is under scrutiny after a bipartisan bill signed by President Biden labeled the app a national security threat. This law requires ByteDance to either divest from or sell TikTok to remain in U.S. app stores. With the deadline fast approaching on Sunday, O'Leary highlighted the significant financial risks for any service provider continuing to host TikTok.

“If any company keeps TikTok available after the deadline, they could face fines of $5,000 a day for every one of the 170 million users,” O'Leary explained. He also pointed out the complexities of the legal situation, particularly with the possibility of an executive order from the incoming Trump administration potentially overriding the ban.

O'Leary expressed concern over the data privacy issues surrounding TikTok, emphasizing the uncertainty of whether American user data is shared with Chinese authorities. Despite the speculation, O'Leary believes the risks are too high.

As the clock ticks down, O'Leary is waiting to see if his $20 billion offer will be enough to secure the platform's future.