Former Treasury Secretary Steven Mnuchin is interested in buying TikTok – By Elisabeth Buchwald and Matt Egan (CNN) / March 14, 2024
New York CNN — Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok.
This comes a day after the House passed a measure to ban the Chinese-owned social media giant or force a sale to a US-operated owner.
“It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin said in an interview on CNBC Thursday morning. Even though TikTok is likely unprofitable, “it’s worth a lot of money,” he added.
Mnuchin said he would give existing US investors the option to roll over their stakes in TikTok but stressed that no entity would have more than 10% control. But he declined to name any individuals on the team he’s putting together.
CONTINUE > https://www.cnn.com/2024/03/14/business/steven-mnuchin-tiktok/index.html
