Trump’s Treasury Secretary Steven Mnuchin Wants to Buy TikTok Amid Brewing Threat of U.S. Ban: ‘It’s a Great Business’
variety.comTodd Spangler NY Digital Editor Steven Mnuchin, former treasury secretary under President Trump and Hollywood producer, said he’s assembling an investor group to acquire TikTok — although there’s no clear indication he could swing a deal with TikTok’s parent, ByteDance, to buy the popular app.
Mnuchin’s comments come a day after the U.S. House of Representatives passed a fast-tracked bill — by a wide margin — that would effectively ban TikTok unless China-based ByteDance sold off its ownership stake.
The measure now goes to the Senate, where prospects of the legislation are far less certain, while President Biden has said he would sign the bill into law.
Mnuchin floated the idea to buy TikTok in a segment Thursday on CNBC’s “Squawk Box.” “I think the legislation should pass and I think it should be sold,” Mnuchin said. “It’s a great business, and I’m going to put together a group to buy TikTok.” He added, “This should be owned by U.S.
Read more on variety.com