Canadian businessman Kevin O’Leary has partnered with billionaire Frank McCourt in a consortium to acquiring TikTok.

This comes as TikTok faces a potential US ban on January 19, 2025, unless its Chinese parent company, ByteDance, sells the app.

McCourt, founder of Project Liberty and executive chairman of McCourt Global, announced in December the initiative “People’s Bid for TikTok.”

This initiative aims to secure ownership and has reportedly secured verbal commitments up to US$20 billion.