Frank McCourt considers TikTok bid with partners

Billionaire Frank McCourt has expressed interest in partnering with others to acquire TikTok’s US operations, provided he retains control. Speaking at the World Economic Forum in Davos, he revealed that private equity firms and family offices have already offered financial backing. He emphasised that the primary challenge lies in awaiting decisions from ByteDance or the Chinese government, rather than securing funding.

McCourt’s bid, tied to his Project Liberty initiative, aims to shift TikTok’s 170 million US users to his platform, promoting greater user control over data sharing. The billionaire remains firm on excluding TikTok’s recommendation algorithm from the deal. His advocacy group initially submitted a proposal earlier this year, focusing on building a digital infrastructure based in the US.

Interest in TikTok’s US operations has surged, drawing attention from notable investors, including Elon Musk and Larry Ellison. Some existing TikTok stakeholders have expressed interest in retaining partial stakes, potentially lowering the estimated $20 billion cost. The sale follows legislative pressure in the US to enforce divestiture or a ban.

McCourt reported bipartisan support from Congress for ensuring a qualified divestiture of TikTok’s US assets. Despite never using the app himself, he values its users, data, and brand, seeing the acquisition as an opportunity to reshape digital engagement.