Kevin O’Leary, a "Shark Tank" investor, announced plans to purchase TikTok as its future hinges on a Supreme Court decision regarding a federal law mandating its sale or ban by January 19. The law, signed by President Joe Biden in April 2024 after bipartisan support in Congress, seeks to address national security concerns tied to TikTok's China-based parent company, ByteDance. TikTok has filed legal challenges, claiming the ban violates First Amendment rights, and requested an injunction to delay the law’s effect, which has been denied by lower courts. Former President Donald Trump, set to be inaugurated again, has opposed the ban and argued for a political resolution to keep TikTok in the U.S. The Supreme Court is set to hear oral arguments on January 10, as O’Leary and The People’s Bid for TikTok, led by Frank McCourt, work to secure a deal prioritizing American privacy. Continue here.
