The social media app TikTok, owned by Chinese parent company ByteDance, faces a looming ban in the United States unless it completes a sale to American buyers.

This ultimatum stems from a law passed in April that raises serious questions about data privacy and national security.

The U.S. Supreme Court is set to hear final appeals in January, but many legal analysts believe TikTok’s prospects of avoiding an all-out ban are increasingly slim.

A forced sale to U.S. investors, however, would unlock a unique opportunity for American billionaires seeking to reshape the platform’s future.

A Ban or a Bargain?

The core concern of U.S. lawmakers lies in TikTok’s massive data collection and the risk that the Chinese government could access sensitive user information.

ByteDance has repeatedly denied enabling any unauthorized data sharing.

Nevertheless, the Supreme Court will soon decide whether to uphold the potential ban, leaving TikTok in a precarious position.

While a presidential intervention might delay enforcement, legal experts, including Joel Thayer of the Digital Progress Institute, suggest that overriding a Supreme Court decision would be nearly impossible.

In this uncertain environment, TikTok’s leadership must weigh how—and under what terms—to sell.

Complicating matters further, ByteDance has stated it will not include the platform’s proprietary algorithm in any deal, asserting that it is crucial intellectual property.

Without the secret sauce that keeps users hooked, buyers would have to develop their own technology to power recommendations and user engagement.

The Contenders

Among those angling to buy TikTok is billionaire investor Frank McCourt, chief executive of McCourt Global.

McCourt has been developing open-source data and social media solutions for five years and sees an unprecedented chance to rebuild TikTok in a way that “puts user control at the heart of the platform.” In 2021, McCourt invested one hundred million dollars in Project Liberty, an initiative aimed at using open-source technology to democratize data and empower users.

According to McCourt, he has already held discussions with leading TikTok creators who have expressed interest in owning the relationship with their audiences, rather than relying on opaque algorithms.

Kevin O’Leary, an entrepreneur and a judge on the reality show “Shark Tank,” also wants in.

He is exploring a crowdfunding approach to mobilize small businesses and everyday investors who rely on TikTok.

“We can build a consortium that isn’t just a cluster of billion-dollar corporations,” O’Leary says.

He hopes to assemble a broad investment pool, with contributions starting as low as one thousand dollars, so the platform remains partly user-owned.

O’Leary’s ambitions extend beyond U.S. borders: if TikTok is sold to American investors, he plans to fly to India—where TikTok is banned—to negotiate a potential partnership, viewing that country’s vast market as another avenue for expansion.

Meanwhile, Bobby Kotick—best known for leading the video game titan Activision Blizzard—has also been floated as a potential partner or investor.

Kotick’s technology background, along with his relationships with investors in ByteDance, could help the takeover navigate thorny international negotiations.

China’s Commerce Ministry, for instance, must still approve any transaction involving ByteDance’s core assets.

Algorithm in Limbo

Observers note that ByteDance’s refusal to sell TikTok’s algorithm sharply reduces the platform’s valuation.

Kevin O’Leary and other potential buyers argue that without the recommendation engine, the price tag will drop dramatically.

The platform’s unprecedented success—driven by the algorithm’s ability to feed compelling, bite-sized videos tailored to users’ interests—may be difficult to replicate.

Prospective owners, however, see this as a chance to build a new engine that prioritizes transparency and user data ownership.

A Global Battleground

Should the American investors succeed, the newly configured TikTok might face fresh geopolitical challenges.

Negotiations with Chinese authorities could prove painstaking, particularly if Beijing decides that divesting a major international asset sets a dangerous precedent.

Additional nations, including India, have their own reservations about the platform, stemming from both data privacy and content moderation issues.

From a regulatory perspective, TikTok’s takeover may herald a turning point in how governments scrutinize foreign-owned digital businesses.

While the U.S. has historically maintained a relatively open market for global technology investment, the TikTok saga underscores a growing bipartisan willingness to wield bans and forced sales as tools of national security policy.

A Race Against the Clock

Even if the Supreme Court decides in favor of a ban, it is conceivable that Washington will give ByteDance limited time to arrange a sale.

Legal experts emphasize that any delays could undermine the platform’s user base and market value.

According to McCourt, TikTok’s tens of millions of American users, plus its broader cultural cachet, remain its strongest selling points—despite the algorithm’s unavailability.

No single suitor appears certain to clinch a deal.

Consortia of investors could emerge, combining resources and expertise in technology, media, and financial management.

And should a sale drag into the next presidential term, changes in administration priorities might alter the platform’s fate once again.

In the meantime, TikTok’s biggest creators, advertisers, and fans await the final verdict, knowing that the platform they rely on for content and business opportunities may soon be governed by new—and distinctly American—hands.