The ban on TikTok is still fresh and there is a long way before the ban happens, if at all it happens, but things are already in motion all around it, with Steven Mnuchin the former Treasury Secretary who served under President Trump expressing interest to buy the company. (Pound, 2024)
The bill to ban TikTok still has to go through the Senate and President Biden still has to sign it before it becomes law, and while its chances of passing through the Senate are good and President Biden has said yes to signing the bill, it is a long way from a done deal.
But it seems the former Treasury Secretary is wasting no time and planning to buy the massively popular company. With the option given to ByteDance the parent company of TikTok to sell the company in the US, there is still a chance that TikTok with its 170 million American users may not only stay in the US but continue to grow.
That is exactly why Steven Mnuchin is putting together an investor group and who knows others might follow suit. But we will still have to see if ByteDance plays ball and if it is allowed by the Chinese government to sell the company, which is extremely unhappy with the US decision to ban TikTok and we have yet to see how they will react to this decision.
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References
Pound, J. (2024, March 14). Former Treasury Secretary Steven Mnuchin is putting together an investor group to buy TikTok. Retrieved from NBC News: https://www.nbcnews.com/tech/social-media/former-treasury-secretary-mnuchin-putting-together-investor-group-buy-rcna143361