As TikTok faces an imminent shutdown in the U.S. on January 19, 2025, due to legal constraints tied to its Chinese ownership, a high-stakes bidding war has erupted among billionaires, investors, and tech moguls vying to acquire the platform. While the app’s proprietary algorithm and global reach are undeniably valuable, its true goldmine lies in its 170 million monthly U.S. users—a massive, engaged audience that has made TikTok a cultural and economic powerhouse. From YouTube sensation MrBeast to Shark Tank’s Kevin O’Leary, the race to buy TikTok is heating up, even as users scramble for alternatives like RedNote and Bluesky.
The Countdown to Shutdown
TikTok’s fate in the U.S. hinges on a Supreme Court decision regarding the Protecting Americans from Foreign Adversary Controlled Applications Act, which requires TikTok’s parent company, ByteDance, to divest its U.S. operations by January 19 or face a ban. The law, signed by President Joe Biden in April 2024, stems from national security concerns over TikTok’s ties to the Chinese government.
TikTok has announced plans for an “immediate and complete” shutdown of the app for U.S. users if the Supreme Court does not intervene. Users attempting to open the app will be redirected to a website explaining the ban and given the option to download their data. This move goes beyond the legal requirements, which only mandate the removal of TikTok from app stores and the cessation of updates .
The Bidding War: Who Wants TikTok?
1. MrBeast: The YouTube Mogul’s Bold Offer
YouTube star MrBeast, known for his philanthropic stunts and massive following, has thrown his hat into the ring with a tongue-in-cheek offer to buy TikTok. On January 14, he tweeted, “Okay fine, I’ll buy TikTok so it doesn’t get banned,” followed by a more serious update: “Unironically I’ve had so many billionaires reach out to me since I tweeted this, let’s see if we can pull this off” .
While MrBeast’s $1 billion net worth falls short of TikTok’s estimated $40–50 billion valuation, his proposal highlights the platform’s cultural significance and the potential for creative leadership to reshape its future.
2. Kevin O’Leary and Frank McCourt: The People’s Bid
Shark Tank’s Kevin O’Leary, aka “Mr. Wonderful,” has teamed up with billionaire Frank McCourt to lead “The People’s Bid for TikTok.” Their vision focuses on decentralizing the platform and giving users control over their data. O’Leary has proposed retaining a 20% Chinese ownership stake while creating an American-led board to address regulatory concerns .
McCourt’s Project Liberty aims to use TikTok as a cornerstone for a decentralized internet, though critics question whether the plan is feasible without access to TikTok’s proprietary algorithm .
3. Elon Musk: A Debunked Bid?
Rumors swirled that Elon Musk, who acquired Twitter (now X) for $44 billion in 2022, was in talks to buy TikTok. However, ByteDance has dismissed these claims as “pure fiction,” and Musk’s involvement remains speculative. Analysts argue that regulatory scrutiny would make a Musk-led acquisition unlikely, given his contentious relationship with U.S. authorities .
4. Other Contenders: Amazon, Walmart, and More
Other potential buyers include Amazon and Walmart, both of which have explored partnerships with TikTok to enhance their e-commerce capabilities. However, the logistical and regulatory challenges of acquiring a social media platform have kept these bids on the backburner .
The User Exodus: RedNote and Bluesky
As TikTok’s shutdown looms, users are flocking to alternatives like RedNote (Xiaohongshu) and Bluesky. RedNote, a Chinese app similar to TikTok, has surged to the top of the U.S. App Store, with users embracing it as a protest against the ban. However, RedNote’s Chinese ownership raises similar national security concerns, making it a questionable long-term solution .
Meanwhile, Bluesky, a decentralized social media platform, has gained traction as a TikTok alternative. With the idea backed by Mark Cuban, a Bluesky app offers users control over their data and a troll-free environment. Cuban has praised Bluesky’s “holy grail” feature: the ability to own and moderate threads, fostering meaningful engagement .
The True Goldmine: TikTok’s Users
While TikTok’s algorithm and global infrastructure are valuable, its true worth lies in its users. The platform has become a cultural juggernaut, driving music trends, launching careers, and shaping public discourse. For potential buyers, retaining TikTok’s user base is paramount, as it represents a direct line to Gen Z and Millennial consumers.
However, the migration to platforms like RedNote and Bluesky underscores the challenges of maintaining user loyalty in a fragmented social media landscape. As Mark Cuban noted, “He who controls the algorithm wins,” but in this case, the users hold the keys to TikTok’s future .
No Doubt: A Pivotal Moment for Social Media
The battle for TikTok is more than a corporate bidding war—it’s a fight for the hearts and minds of millions of users. As the January 19 deadline approaches, the stakes couldn’t be higher. Whether TikTok finds a new home or fades into obscurity, its legacy as a cultural and economic force is undeniable.
For now, the users remain the goldmine, and their choices will shape the future of social media.
Read More:
- MrBeast Offers to Buy TikTok
- TikTok Plans Immediate Shutdown
- TikTok Users Flock to RedNote
- The Big Names Eyeing TikTok
- Mr. Wonderful Joins the Bidding
- TikTok’s U.S. Unit Valuation
- Mark Cuban on Bluesky
