Could MrBeast and Billionaires Rescue TikTok from a US Ban?
Recent reports suggest a surprising potential savior for TikTok in the US: MrBeast, along with a group of unnamed billionaires, are reportedly exploring a buyout to prevent 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 TikTok's immense popularity is undeniable, concerns over data sharing with the Chinese government fueled the ban. The Department of Justice alleges this includes data from underage users, raising national security fears. MrBeast's initial tweet suggesting a personal purchase seemed playful, but subsequent tweets reveal serious discussions with multiple billionaires about the feasibility of such a venture.
The challenge, however, is significant. ByteDance has publicly stated, through lawyer Noel Francisco, that TikTok is not for sale and that any sale attempt might face Chinese government obstruction. While ByteDance previously considered a sale to avoid a ban, that stance appears to have shifted. Even with substantial financial backing, the success of a buyout remains uncertain, hinging on ByteDance's and potentially the Chinese government's willingness to negotiate. A US-based entity controlling TikTok's US operations could potentially alleviate the government's concerns, but the likelihood of this unconventional rescue mission succeeding remains highly speculative.
