GLOBALLY RENOWNED INVESTOR AND ENTREPRENEUR KEVIN O'LEARY JOINING THE PEOPLE'S BID FOR TIKTOK

NEW YORK, Jan. 6, 2025 /PRNewswire/ -- Internationally recognized investor and entrepreneur Kevin O'Leary joins forces with The People's Bid for TikTok, an effort led by Project Liberty Founder Frank McCourt. The bid aims to purchase TikTok's U.S. assets and rebuild the platform in a way that prioritizes the privacy of its 170 million American users.

O'Leary, known to millions as Shark Tank's "Mr. Wonderful," has helped shepherd countless businesses and start-ups to success, including O'Leary Funds and O'Leary Ventures. A celebrated entrepreneur and financial expert, he has authored multiple best-selling books on business and investing, sharing his hard-earned wisdom with audiences around the world. O'Leary has over 10 million social media followers across multiple platforms including 1.4 million on TikTok, many of them entrepreneurial small business owners. Earlier this year, O'Leary expressed interest in working with other investors to purchase TikTok, highlighting his belief in the need for change on the platform and its potential to drive meaningful social and economic impact for many Americans. O'Leary's crowdfunding effort for individuals to register interest at WonderfulTikTok.com will now be folded into The People's Bid, which will help ensure individuals and small businesses have a stake in the future of TikTok.

"We've built a clean, American-made tech stack and continue to be the only viable bidder that can offer a seamless transition for everyone on TikTok without the existing algorithm. With the addition of Kevin and his countless followers to our bid, The People's Bid enters a new phase. Kevin has been a relentless advocate for new ownership of this platform as he understands the enormous opportunity a sale presents for investors, the millions of creators who rely on the platform for their livelihoods, and everyday Americans who love the platform," said Frank McCourt, Founder of Project Liberty. "It's clear that our visions for a people-centered, American-owned platform are closely aligned, and our combined efforts will give a significant boost to The People's Bid as the January 19 deadline for a sale of TikTok quickly approaches. Kevin and I, along with the thousands of supporters who have come forward to back The People's Bid, firmly believe we can build a better TikTok – one that protects our national security and becomes a safe, secure platform that millions of people on the app will trust. We look forward to working with President-elect Trump to save TikTok."

"Joining The People's Bid for TikTok is an opportunity to take action on an issue I'm deeply passionate about - protecting privacy and creating value for users," said Kevin O'Leary. "TikTok has immense potential—not just as a tool for creators and businesses, but as a cornerstone of a more secure, people-centered digital future. Together with Frank, we aim to deliver an American-owned platform that safeguards national security while empowering its 170 million U.S. users to thrive. With the January 19 deadline quickly approaching, I'm confident that our shared vision, paired with President-elect Trump's business acumen, will lead to a deal that benefits everyone."

Launched in 2019, Project Liberty builds solutions that help people take back control of their digital lives by reclaiming a voice, choice, and stake in a better internet. Last May, Project Liberty announced The People's Bid for TikTok with the backing of Guggenheim Securities, the investment banking and capital markets business of Guggenheim Partners, and Kirkland & Ellis, the world's largest law firm. The People's Bid aims to capitalize on the once-in-a-lifetime opportunity to redesign TikTok to help Americans reclaim their digital independence. For the first time, it would give TikTokers control of their data and provide creators and businesses ownership of the relationships they've worked so hard to build. The People's Bid has attracted deep support from leaders across the fields of finance, policy, and technology, along with thousands of concerned citizens.

About Project Liberty

Project Liberty is leading the movement to give people back control of their lives in the digital age by ensuring they have a voice, choice, and stake in a better internet. Started in 2019 and publicly launched in 2021 by civic entrepreneur Frank McCourt and supported by a $500-million commitment, Project Liberty includes the work of the Project Liberty Institute—a 501(c)(3) with an international partner network that includes Georgetown University, Stanford University, ETH in Zurich, and other leading academic institutions and civic organizations—and a technological team that is focused on developing the next generation of digital infrastructure. Project Liberty's activities include the release of the Decentralized Social Networking Protocol (DSNP), which is stewarded by the Institute and freely available as a piece of digital public infrastructure. DSNP serves as the bedrock of a more equitable web enabling a new era of innovation that empowers people over platforms and serves the common good.

SOURCE Project Liberty