Billionaire real estate mogul organizing ‘people’s bid’ to buy TikTok

Billionaire Frank McCourt is organizing a consortium of investors to purchase TikTok from its China-based parent company, ByteDance, as the social media platform faces a potential ban in the U.S. due to national security concerns if it isn’t divested.

McCourt, executive chairman of McCourt Global and founder of Project Liberty, announced that Project Liberty is organizing a “people’s bid” to buy TikTok that would aim to put people and data empowerment at the forefront of the video app’s design and purpose. Project Liberty is working on the bid with Guggenheim Securities and law firm Kirkland & Ellis, as well as technologists and