{"id":44997,"date":"2025-01-09T19:57:51","date_gmt":"2025-01-09T19:57:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/billionaire-frank-mccourts-project-liberty-offers-to-acquire-tiktoks-us-assets\/"},"modified":"2025-01-09T19:57:51","modified_gmt":"2025-01-09T19:57:51","slug":"billionaire-frank-mccourts-project-liberty-offers-to-acquire-tiktoks-us-assets","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/billionaire-frank-mccourts-project-liberty-offers-to-acquire-tiktoks-us-assets\/","title":{"rendered":"Billionaire Frank McCourt\u2019s Project Liberty offers to acquire TikTok\u2019s US assets"},"content":{"rendered":"<p><b>(Originally posted on : Invezz )<\/b><br \/>\n<\/p>\n<div><\/div>\n<p>As the deadline for a potential US TikTok ban approaches, businessman Frank McCourt\u2019s Project Liberty has made a bold move. <\/p>\n<p>Just days before the Supreme Court hears arguments on the ban, McCourt\u2019s internet advocacy nonprofit <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/01\/09\/billionaire-frank-mccourts-project-liberty-bids-for-tiktok.html\" rel=\"noopener\">submitted a proposal to purchase the popular social media platform<\/a> from its Chinese owner, ByteDance. <\/p>\n<p>The bid, part of the &#8220;People\u2019s Bid for TikTok,&#8221; aims to reshape the app\u2019s future on an American-owned platform that prioritizes user privacy and digital safety..<\/p>\n<div class=\"wp-block-kevinbatdorf-xeet-wp xeet-wp\">\n<div class=\"react-tweet-theme Prh5YO6Z7gkcGwVjnX1Q\">\n<article class=\"y3vyxk0KOdMgcSTtzERK\">\n<div class=\"lXRMjX2KYR7IZSOZPFbm\"><a href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" class=\"nkzum3vS9EE0UMk6wIwD\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"gxuhzv6slGlIBy5JFjVm\"><img src=\"https:\/\/pbs.twimg.com\/profile_images\/1025453896779608065\/9PgVcc0Q_normal.jpg\" alt=\"CNBC Tech\" width=\"48\" height=\"48\" loading=\"lazy\"><\/div>\n<div class=\"gxuhzv6slGlIBy5JFjVm\">\n<div class=\"jM__a2FZ4FtvadsBSIC5\"><\/div>\n<\/div>\n<p><\/a><\/p>\n<div class=\"BwMePHrH3rvsmYE498nW\"><a href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" class=\"oDvOSSsrnTspryAL9YVt\" target=\"_blank\" rel=\"noopener noreferrer\"><\/p>\n<div class=\"YqFZOCD996i_gAbVzqfJ\"><span title=\"CNBC Tech\">CNBC Tech<\/span><\/div>\n<div class=\"k4aQ6nZmsk6GjbvjPKss\"><\/div>\n<p><\/a><\/p>\n<div class=\"T65hgE51dyqUMzAY5hl0\"><a href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" class=\"jg4rjgPtL89uoWZw81FG\" target=\"_blank\" rel=\"noopener noreferrer\"><span title=\"@CNBCtech\">@CNBCtech<\/span><\/a><\/p>\n<div class=\"IulIEDncuBnezCKlPUfn\"><span class=\"f9i0GrOk4HWCqDStzGHE\">\u00b7<\/span><a href=\"https:\/\/twitter.com\/intent\/follow?screen_name=CNBCtech\" class=\"X9KF8bvQvjpxMkEUAQSg\" target=\"_blank\" rel=\"noopener noreferrer\">Follow<\/a><\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" class=\"VAKgDYwbCPjVtzvR7vsi\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"View on Twitter\"><\/a><\/div>\n<p class=\"AdGEHCYjGQTkPV_D5imj\"><span>Billionaire Frank McCourt&#8217;s Project Liberty bids for TikTok ahead of Supreme Court arguments <\/span><a href=\"https:\/\/www.cnbc.com\/2025\/01\/09\/billionaire-frank-mccourts-project-liberty-bids-for-tiktok.html?__source=twitter%7Ctech&amp;taid=677ff31140985e0001b70183&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter\" class=\"LuuFAn5qKGMLl5k1L76T\" target=\"_blank\" rel=\"noopener noreferrer\">cnbc.com\/2025\/01\/09\/bil\u2026<\/a><\/p>\n<div class=\"_0kiDv1j1JHI8CF0Ntb_\"><a class=\"PF6M5QdjvCYeUIeL82Pw\" href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"9:32 PM \u00b7 Jan 9, 2025\">9:32 PM \u00b7 Jan 9, 2025<\/a><a class=\"EUWNvie68q0hB7x9gYil\" href=\"https:\/\/help.twitter.com\/en\/twitter-for-websites-ads-info-and-privacy\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Twitter for Websites, Ads Information and Privacy\"><\/a><\/div>\n<div class=\"r1nP5SJS7VNmWTX19Auq\"><a class=\"gcUKEvUouWctDVs4Uni5\" href=\"https:\/\/twitter.com\/intent\/like?tweet_id=1877385448663777569\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Like. This Tweet has 2 likes\"><\/p>\n<div class=\"EYp9rp32FVnHEztzLqMG\"><\/div>\n<p><span class=\"aMeAuAqW2H34ePc2jorL\">2<\/span><\/a><a class=\"We700JQVK913TW5TZQk6\" href=\"https:\/\/twitter.com\/intent\/tweet?in_reply_to=1877385448663777569\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Reply to this Tweet on Twitter\"><\/p>\n<div class=\"SXNJIS9giXWKxuUsSwXx\"><\/div>\n<p><span class=\"qAurmX5F17a0m0GbrhOq\">Reply<\/span><\/a><button type=\"button\" class=\"EDcxfgdhQDFSaBs5yAxC\" aria-label=\"Copy link\" data-xeet-url-to-copy=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\"><\/p>\n<div class=\"O1W4EuB8WU92_ex7pGQT\"><\/div>\n<p><span class=\"ovn4FbJMqbXsfiK7gvth\" data-copy-text=\"{&quot;copied&quot;:&quot;Copied!&quot;,&quot;copyAllText&quot;:&quot;Copy link to Tweet&quot;}\">Copy link<\/span><\/button><\/div>\n<div class=\"cjgWV81BwLW_tK8FicCg\"><a class=\"tczCx_QJsiI5O2NPUrfI\" href=\"https:\/\/twitter.com\/CNBCtech\/status\/1877385448663777569\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"LW1dI56xN0L7kAXJota7\">Read more on Twitter<\/span><\/a><\/div>\n<\/article>\n<\/div>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ahead-of-january-19-deadline-project-liberty-announces-a-formal-offer-to-acquire-tiktok-us-302346575.html\" rel=\"noopener\">In a statement<\/a>, McCourt explained that the vision for a reimagined TikTok would involve restructuring the app to operate on a US-based technology stack, thereby protecting American users from potential privacy concerns. <\/p>\n<p>\u201cWe\u2019ve put forward a proposal to ByteDance to realize Project Liberty\u2019s vision for a reimagined TikTok \u2013 one built on an American-made tech stack that puts people first,\u201d McCourt said. <\/p>\n<p>He emphasized that this initiative would not rely on TikTok\u2019s current algorithm, offering an alternative to the looming ban that threatens millions of users.<\/p>\n<p>While the nonprofit has not disclosed financial details, Project Liberty confirmed that ByteDance has received the proposal. <\/p>\n<p>As the legal battle heats up, with the Supreme Court set to hear oral arguments on the TikTok ban, McCourt\u2019s offer introduces an intriguing potential solution. <\/p>\n<p>The US government\u2019s national security concerns over TikTok, based on its Chinese ownership, have led to the proposed ban, which could significantly impact American users and small businesses. <\/p>\n<p>According to TikTok, a one-month ban would result in a $1.3 billion loss in revenue and earnings for US creators and businesses.<\/p>\n<p>The proposed ban, part of the &#8220;Protecting Americans from Foreign Adversary Controlled Applications Act,&#8221; would prohibit TikTok from being distributed or maintained in the US while under Chinese ownership. <\/p>\n<p>Project Liberty\u2019s bid seeks to mitigate these issues by moving TikTok to an open-source platform where users have more control over their data, aligning with its broader mission to build a more user-empowered internet.<\/p>\n<p>The initiative is backed by high-profile partners, including investment banking group Guggenheim Securities and law firm Kirkland &amp; Ellis. <\/p>\n<p>Its supporters include digital safety advocates, investor Kevin O&#8217;Leary, and World Wide Web inventor Tim Berners-Lee, further bolstering the credibility of the bid.<\/p>\n<p>As the legal battle continues, Project Liberty\u2019s proposal could shape the future of TikTok in the US and set the stage for new regulations on user privacy and digital sovereignty.<\/p>\n<\/p>\n<p>The post <a href=\"https:\/\/invezz.com\/news\/2025\/01\/09\/billionaire-frank-mccourts-project-liberty-offers-to-acquire-tiktoks-us-assets\/\">Billionaire Frank McCourt\u2019s Project Liberty offers to acquire TikTok\u2019s US assets<\/a> appeared first on <a href=\"https:\/\/invezz.com\/\">Invezz<\/a><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/invezz.com\/news\/2025\/01\/09\/billionaire-frank-mccourts-project-liberty-offers-to-acquire-tiktoks-us-assets\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Invezz ) As the deadline for a potential US TikTok ban approaches, businessman Frank McCourt\u2019s Project Liberty has made a bold move. Just days before the Supreme Court hears arguments on the ban, McCourt\u2019s internet advocacy nonprofit submitted a proposal to purchase the popular social media platform from its Chinese owner, [&hellip;]<\/p>\n","protected":false},"author":3947362382,"featured_media":44998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[39],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44997"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362382"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44997"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44998"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}