Frank McCourt.Claude Paris/APFrank McCourt is organizing a group to acquire TikTok's US business through Project Liberty.US lawmakers voted to ban the Chinese-owned app unless the US arm sold within a year.McCourt's group aims to change TikTok's infrastructure and reclaim digital identities and data.Real estate mogul Frank McCourt is the latest person to raise his hand to try to acquire TikTok's US business.McCourt said on Wednesday that he is assembling a group of specialists, including investment bank Guggenheim Securities and law firm Kirkland & Ellis, as well as technology experts, academics, and parents, to consult on buying the US division of the viral social media app.The announcement follows a decision by US lawmakers last month to ban Chinese-owned TikTok from US app stores unless it is sold within a year.
Comment on Billionaire real estate investor Frank McCourt wants to buy TikTok — but he's not interested in the algorithm
shubhangigoel@insider.com (Shubhangi Goel), Business Insider
Wed, 05/15/2024 - 10:08pm
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