Egypt Daily News – While the decision to ban the “Tik Tok” platform in America is expected to come into effect tomorrow, January 19, that is, one day before the inauguration of Donald Trump as the new president of the United States, a prominent name in the field of real estate revealed the financial value proposed for his desire to buy the platform, with its American branch and which is owned by the Chinese parent company, ByteDance.
American billionaire real estate tycoon Frank McCourt spoke about his desire to buy the TikTok application, which is followed by 170 million Americans, for $20 billion, adding, “I think this is the value of TikTok in the American branch, which is a small share of the value of the parent company, ByteDance.”
The 70-year-old, who previously owned the Los Angeles Dodgers baseball team, continued in an interview with NBC, “We would buy it without the algorithm.”
“Without the algorithm”
He also said, “We highly doubt that China will sell TikTok using the algorithm, and we do not want the algorithm because we are talking about a different structure, and a different way of thinking about the Internet and how it works,” indicating that everyone is wondering how we will buy it without algorithms, “but this is what distinguishes our offer.”
McCourt wants to shift TikTok’s core business to an open source model that allows users and creators more control over their data.
The alliance founded by McCourt in cooperation with (Project Liberty) had announced its intention to submit an official offer to buy the TikTok platform’s business in the United States earlier, without revealing the potential value of the deal.
McCourt’s fortune is $1.4 billion, according to Forbes, and he has amassed his fortune through real estate and sports investments. Real estate mogul Frank McCourt is also the latest person to try to take over TikTok’s business in the United States.
Elon Musk “pure fantasy”
Before McCourt put forward Elon Musk’s name to buy the platform, confidential sources revealed that senior Chinese officials had begun discussing contingency plans for TikTok as part of broad discussions about how to work with the Donald Trump administration, one of which included Elon Musk.
The sources explained that, under a scenario set by the Chinese government, the owner of the However, TikTok denied this, saying it was “pure fantasy.”
Steven Mnuchin enters the line
Former Treasury Secretary Steven Mnuchin also said he is looking to buy the Chinese platform, but he may not have the funds to do so.
The application’s market value is estimated at between $40 and $50 billion. The value of its advertising revenues in America in 2024 is estimated at approximately $16 billion, according to eMarketer, a research company.
It is noteworthy that Elon Musk, who was appointed by US President-elect Donald Trump to head the Ministry of Government Efficiency, paid $44 billion to buy Twitter (currently X) three years ago when its advertising business amounted to only $4.5 billion annually.
Earlier the US Supreme Court upheld the law banning the TikTok application if it is not sold by the parent Chinese company in the USA. The court’s decision came against the backdrop of unusual political turmoil between President-elect Donald Trump, who pledged that he was able to negotiate a solution
