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Investor ready to buy TikTok amid looming US deadline
A billionaire investor prepared to acquire TikTok's US operations says he remains in limbo as the latest deadline for the app's sale approaches. Frank McCourt, part of a group that has secured funding for the purchase, told the BBC he is waiting for clarity from Washington but stands ready to act if the opportunity arises.
Repeated delays fuel uncertainty
The US has postponed the deadline for Chinese owner ByteDance to divest TikTok's American business multiple times. President Donald Trump is expected to extend the deadline again on Tuesday, marking the fifth such delay. The app faced a January ban or forced sale under a 2024 law passed by Congress, which cited national security risks due to ByteDance's ties to Beijing.
Lawmakers argued that China could compel ByteDance to share data on US users, a claim the company has consistently denied. The legislation was signed by President Joe Biden and later upheld by the Supreme Court in early 2025.
Trump's claims and shifting timelines
Trump and his administration previously suggested a deal was close, with the president asserting that US investors-including allies like Oracle's Larry Ellison and Dell Technologies' Michael Dell-would acquire the platform. He also claimed the sale had the approval of Chinese President Xi Jinping. However, a high-profile meeting between Trump and Xi in October ended without an agreement, and neither ByteDance nor Beijing has since confirmed any sale plans.
Analysts now expect another extension, as no signs of an imminent deal have emerged this time.
Investor warns of concentrated power
McCourt, whose group includes Reddit co-founder Alexis Ohanian and Canadian investor Kevin O'Leary, expressed concerns about the potential consolidation of influence if TikTok falls into the hands of a small group of investors. "Platforms like TikTok are very influential," he said, without naming Trump's preferred buyers. "My hope is that, whether it's shut down or sold, it ends up with people who comply with the law."
"We've raised the capital to buy it-we'll see."
Frank McCourt, investor
Plan to replace Chinese technology
McCourt outlined his vision for a TikTok independent of Chinese infrastructure, including its recommendation algorithm. His initiative, Project Liberty, has developed alternative technology that could replace ByteDance's systems. The goal, he said, is to ensure the platform operates without reliance on Beijing-linked code.
What's next
With the deadline looming and no clear path forward, the fate of TikTok's US operations remains uncertain. Observers will watch for Trump's expected announcement on Tuesday, which could either extend the timeline again or signal a shift in strategy.
