According to the previous ruling, TikTok must sell its US assets or cease operations by January 19, 2025. In the letter, the two senators said the Washington government should extend the deadline for TikTok by 90 days.
Billionaire Frank McCourt is one of the parties intending to buy TikTok
PHOTO: MCCOURT GLOBAL/REUTERS
A day before they sent the letter, the US Supreme Court announced that it would consider an emergency petition by TikTok and its parent company ByteDance (based in China) regarding the enforcement of the law banning the app on national security grounds. The court will hear the parties' arguments on January 10, 2025. "Given the uncertain future of the law and its consequences for free speech, we urge you (Joe Biden) to delay implementation for another 90 days before January 19, 2025," Reuters quoted the letter as saying. Assessing the latest effort by TikTok and ByteDance, Bloomberg Intelligence analysts said the app only has a 30% chance of avoiding the ban.
American real estate billionaire Frank McCourt, with an estimated net worth of $2.4 billion according to Bloomberg, shared with Fox News about his plan to buy TikTok if its parent company ByteDance loses its legal battle in the US Supreme Court. Mr. McCourt, executive chairman of McCourt Global (headquartered in New York State), said his team is discussing this possibility with the incoming administration of President-elect Donald Trump.
According to Axios , billionaire McCourt's team has received "informal commitments to help raise more than $20 billion" to support the effort to buy TikTok in case ByteDance intends to sell. The American billionaire's plan to buy TikTok has received support from financial services company Guggenheim Securities (based in New York and Illinois) and Kirkland & Ellis, one of the world's largest law firms.
However, Mr. McCourt said that he has not yet been able to reach out to ByteDance. "We have tried to reach out but have not been successful because they (ByteDance) think they will win the legal battle, and they have not discussed the possibility of selling TikTok," Business Insider quoted Mr. McCourt as saying. In addition to the above plan, other investors, including former US Treasury Secretary Steven Mnuchin, have expressed interest in buying the popular social networking app with about 170 million users in the US.
He also admitted that he still doesn't know what TikTok's next move will be if the law goes into effect. "They'll probably shut TikTok down," the billionaire told Yahoo Finance. "I hope not. President-elect Trump doesn't want that either," McCourt said. Trump met with TikTok CEO Shou Chew at Mar-a-Lago in Florida on December 16, according to CNN. The content of the meeting is unclear, but Trump previously said he might change his approach to TikTok. It's still unclear what Trump's new approach will be.
Source: https://thanhnien.vn/ke-hoach-giai-cuu-tiktok-185241220222438375.htm
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