Billionaire Frank McCourt bids to acquire TikTok’s U.S. assets 

This move comes as the popular social media platform faces a potential nationwide ban later this month due to concerns over data security and its ties to Chinese parent company, ByteDance.

The acquisition bid is part of McCourt’s Project Liberty, an initiative aimed at creating a fairer digital ecosystem by putting users in control of their data.

According to a statement, McCourt emphasized the importance of keeping TikTok accessible to millions of Americans while addressing privacy and algorithmic transparency.

“We’ve put forward a proposal to ByteDance to realize Project Liberty’s vision for a reimagined TikTok—one built on an American-made tech stack that puts people first,” McCourt said.

Project Liberty believes this transition will not only address data security concerns but also ensure the platform operates independently of its current controversial algorithm.

While the exact value of the offer has not been disclosed, the organization highlighted its ability to complete such a complex transaction.

Project Liberty has also gained support from TikTok creators and tapped into a network of experienced legal and financial advisers to help navigate the deal. “Shark Tank” investor Kevin O’Leary recently joined the consortium and confirmed discussions with President-elect Donald Trump during a meeting at Mar-a-Lago.

As TikTok’s fate hangs in the balance, McCourt’s consortium remains optimistic about its bid, promising to preserve the app’s cultural impact while ensuring a safer and more transparent platform for American users.