United States businessman Frank McCourt has expressed willingness to collaborate with other buyers on a bid for TikTok’s U.S. operations, provided he retains control of the asset.
Speaking at the World Economic Forum in Davos on Thursday, McCourt emphasized that capital was not a barrier, citing interest from private equity firms and family offices eager to finance the deal.
“The issue here is waiting for ByteDance, or the Chinese government, to make a decision about the future of U.S. TikTok,” McCourt told Reuters.
His remarks come amid heightened scrutiny of TikTok’s ownership, following U.S. President Donald Trump’s executive order earlier this week delaying enforcement of a ban on the platform for 75 days.
Trump has also suggested that the U.S. government take a 50% stake in any joint venture involving TikTok, mentioning billionaires Elon Musk and Larry Ellison as potential buyers.
McCourt’s advocacy group, Project Liberty, submitted a bid for TikTok’s U.S. assets earlier this month. The plan involves transitioning TikTok’s 170 million U.S. users to Project Liberty’s technology, which prioritizes user control over data usage and sharing.
McCourt aims to move TikTok’s U.S. operations onto domestic digital infrastructure, a process he estimates could be completed within a year if his bid is successful.
Notably, McCourt’s bid does not include TikTok’s recommendation algorithm, which is considered the core of the app’s popularity. Instead, he views the app’s user base, data, and brand as the primary assets of interest.
TikTok’s U.S. operations have attracted a diverse group of potential buyers, including Saudi Prince Alwaleed Bin Talal’s Kingdom Holding and a consortium led by online personality Jimmy Donaldson, better known as MrBeast. Former Treasury Secretary Steven Mnuchin has also reportedly assembled a group of investors to pursue the deal.
McCourt, who met with the U.S. House Select Committee on China earlier this week, said lawmakers on both sides of the aisle are committed to ensuring compliance with legislation that could mandate a sale or ban of TikTok’s U.S. operations. “I came away with a very clear impression that Congress is unified on enforcing this legislation,” McCourt noted.
Despite significant interest, questions remain about the scope of the assets up for sale and the financing required. The deal could cost an estimated $20 billion, excluding the inclusion of TikTok’s algorithm. Existing TikTok investors have reportedly expressed interest in rolling over their stakes, potentially reducing the upfront capital required.
McCourt emphasized that his bid is not solely about financial considerations but about meeting the stringent criteria set by U.S. legislation. “This is not just about who will pay the most money,” he said. “This is about who can meet the very strict criteria laid out in the legislation and reaffirmed by the Supreme Court.”
