ANDFormer US Treasury Secretary Steven Mnuchin said it was assembling a group of investors to try to buy TikTok after the House of Representatives on Wednesday passed legislation that would have forced the social network to split from its parent company in China or otherwise face a ban in the United States.
“I think the bill should be passed and I think it should be sold,” Mnuchin said on CNBC this Thursday. “It’s a big deal and I’m going to form a group to buy TikTok,” the former finance minister added. in the administration of Donald Trump..
Moreover, Mnuchin did not specify who the other investors in the said contract would be or the potential value of this popular social network.
This bill on TikTok – a platform that has 170 million users in the United States – now goes to the Senate, where its future is uncertain, although President Joe Biden’s administration has indicated that it will sign the bill if it is approved.
Mnuchin said TikTok should be owned by an American company.
“There’s no way the Chinese would allow an American company to own something like that in China,” Mnuchin reasoned.
This wouldn’t be the first high-profile deal Mnuchin has been involved in since leaving the Trump administration, as Mnuchin’s Liberty Strategic Capital was the lead investor last week in raising $1 billion to stabilize New York Community Bancorp.
Former President Trump (2017-2021) tried to ban TikTok at one time due to the network’s threat to “national security,” although that measure ended up in court and was overturned by current President Joe Biden without getting involved. law. force.
During this period, ByteDance was negotiating with Microsoft to sell part of the company.
Since then, Trump changed his mind and came out against the TikTok ban.
From his side. Millionaire investor Kevin O’Leary, known for being one of the judges on the television show ‘Shark Tank’, told Fox this Monday that if the US veto is accepted, he would also be interested in buying the platform.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
