Kevin O'Leary, a prominent investor known for his role on the television show "Shark Tank," has hinted at a potential acquisition of the popular social media platform TikTok should a proposed ban move forward, The Hill reported.
During an interview on Fox News, O'Leary confidently stated, "Not going to get banned, 'cause I'm gonna buy it."
The discussion arises amid a bipartisan effort in the House to pass a bill that would effectively ban TikTok if its parent company, ByteDance, fails to divest from it. Spearheaded by Reps. Mike Gallagher and Raja Krishnamoorthi, the bill aims to address concerns regarding the app's ties to China and potential national security risks.
Under the proposed legislation, ByteDance would have 165 days, roughly five months, to sell TikTok or face repercussions, including making the platform unavailable for download through major app stores such as Apple and Google. The bill also extends its reach to other apps controlled by foreign companies, as reported by CNN.
O'Leary emphasized the immense value of TikTok as an advertising platform, stating, "This is worth billions; it's one of the most successful advertising platforms in social media today. All my companies use it. I'll buy it."
The proposed ban has faced criticism from TikTok and its supporters. TikTok spokesperson Alex Haurek told the Hill that the bill infringes on free speech, arguing that it would negatively impact millions of Americans and small businesses who rely on the platform for growth and job creation.
This isn't the first time TikTok has faced potential legislative action. Last year, a Republican-backed bill banning the app drew opposition from Democrats concerned about its implications for free expression.
On Friday, President Joe Biden signaled his readiness to support the bill if it passes through Congress.
"If they pass it, I'll sign it," Biden affirmed to reporters.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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