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    Home » News » Billionaire Frank McCourt Sets Sights on TikTok’s U.S. Division

    Billionaire Frank McCourt Sets Sights on TikTok’s U.S. Division

    Frank McCourt aims to revolutionize TikTok’s U.S. operations with a bid focused on data privacy and user control.

    Editorial Team (ET)May 9, 2025



    The world of social media is once again in the spotlight as billionaire Frank McCourt steps forward with a bold plan to acquire TikTok’s U.S. operations. This move comes amid rising tensions and regulatory uncertainties surrounding the popular app's future in the United States. Let's dive into the details of this ambitious bid and what it could mean for the social media landscape.

    Frank McCourt is a name that resonates with many, particularly in the realms of sports and real estate. The former owner of the Los Angeles Dodgers, McCourt has made a significant impact in various industries. With a net worth of approximately $1.4 billion, according to Forbes, he has the financial muscle to take on large ventures.

    Beyond his stint with the Dodgers, McCourt has been involved in numerous business ventures, showcasing his versatility as an entrepreneur. His latest project, Project Liberty, is aimed at creating a more equitable internet, promoting the transition to an open data economy.

    On Wednesday, McCourt announced his intent to bid for TikTok’s U.S. operations. This effort is being spearheaded by his Project Liberty organization in collaboration with global investment bank Guggenheim Partners and law firm Kirkland & Ellis. This consortium aims to reshape TikTok in a way that aligns with McCourt's vision for a fairer digital landscape.

    Project Liberty is not just about acquiring a social media platform; it's about revolutionizing how the internet works. McCourt envisions TikTok as a catalyst for an alternative tech model, one that prioritizes user control and data privacy. He aims to enhance the TikTok experience by ensuring individuals and creators have more control over their data.

    Leading technologists, including Sir Tim Berners-Lee, the founder of the World Wide Web, support McCourt’s initiative. This backing highlights the bid's focus on technological advancement and ethical data use, positioning it as a significant shift from current big tech practices.

    TikTok’s future in the U.S. has been in flux due to political and regulatory pressures. Last month, President Joe Biden signed a bill that could lead to a nationwide ban on TikTok if its Chinese parent company, ByteDance, does not sell its stake within a year. This move has added urgency to the discussions surrounding the app's ownership.

    The legislative push to ban TikTok has met with resistance. A group of eight TikTok creators recently sued the U.S. government, arguing that the bill violates their First Amendment rights. TikTok and ByteDance have also launched legal actions, claiming the legislation is unconstitutional.

    McCourt’s acquisition bid could bring significant changes for TikTok users. His plan focuses on data privacy and user control, promising a safer and more transparent platform experience. Under McCourt’s vision, TikTok users would transition to software aligned with Project Liberty’s Decentralized Social Networking Protocol. This change aims to give users greater control over their personal data, addressing long-standing concerns about data security and privacy. The acquisition could also influence the broader social media landscape, challenging the dominance of big tech companies and promoting a more user-centric approach to data management and platform governance.

    Financing such a large acquisition is no small feat. McCourt plans to seek funding from a mix of foundations, endowments, pension funds, and public contributions. The exact cost of acquiring TikTok remains uncertain, adding another layer of complexity to the bid.

    McCourt is not alone in his interest in TikTok. Former U.S. Treasury Secretary Steve Mnuchin and "Shark Tank" investor Kevin O’Leary have also expressed interest in purchasing the platform. This competition could drive up the acquisition price and complicate McCourt’s efforts.

    Frank McCourt's bid to acquire TikTok’s U.S. operations is a bold move that could reshape the future of social media. By emphasizing data privacy and user control, McCourt aims to create a platform that respects individual rights and promotes a more equitable internet. As the bid progresses, it will be fascinating to see how this potential acquisition unfolds and its impact on the digital landscape.

    TikTok





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