Real estate billionaire and former Dodgers owner wants to buy TikTok

Real estate billionaire Frank McCourt is staging a bid to buy TikTok as the app's Chinese parent company ByteDance faces a possible U.S. ban if it doesn't sell the platform within a year.

McCourt, former owner of the Los Angeles Dodgers and executive chairman of investment firm McCourt Global, said Wednesday that he is developing a bid for his organization Project Liberty to acquire TikTok “with the goal of putting people and data empowerment at the heart of the marketplace.” the design and purpose of the platform.”

He proposes to migrate the popular social media platform to a digital open source protocol, according to a press release.

“The foundation of our digital infrastructure is broken, and it is time to fix it,” McCourt said in a statement. “We can and must do more to protect the health and well-being of our children, families, democracy and society.”

“We see this potential acquisition as an incredible opportunity to catalyze an alternative to the current technology model that has colonized the internet,” he added.

Project Liberty, which McCourt Global describes as “a far-reaching $500 million initiative to transform the way the Internet works,” already has an open source protocol at its fingertips.

The organization oversees the Decentralized Social Networking Protocol (DSNP), an “open protocol and potential standard for social media,” according to its website.

McCourt's bid to buy TikTok has the backing of Sir Tim Berners-Lee, the inventor of the World Wide Web, according to Wednesday's press release.

“The web I invented was intended to provide power and value to individuals that they currently lack,” Berners-Lee said in a statement. “Users should have the ability to manage their own data and share it with other people and organizations as they see fit.”

“A TikTok that uses open internet protocols like Solid will embrace the critical values ​​of privacy, data sovereignty and users' mental health,” he added, referring to the open-source protocol he leads.

McCourt isn't the only businessman looking to take over TikTok. Former Treasury Secretary Steven Mnuchin, who previously said he was putting together a group to buy the app, said last week he is still “very interested.”

The interest in TikTok comes in the wake of a new law signed by President Biden last month that requires ByteDance to sell the app within about a year or face a ban on U.S. networks and online app stores.

However, TikTok and ByteDance are suing to block the law, which they say violates the First Amendment.

Related Posts

  • Business
  • May 22, 2024
  • 2 views
  • 4 minutes Read
How will the violent unrest in New Caledonia affect global nickel prices?

Jakarta, Indonesia — Global nickel prices have soared since deadly violence broke out in the French Pacific region of New Caledonia last week. The overseas territory, which has been under…

  • Business
  • May 22, 2024
  • 3 views
  • 5 minutes Read
Elections in South Africa: How Mandela's once revered ANC lost its way

Cape Town, South Africa — For years, the African National Congress stood above politics in South Africa. It was a movement dedicated to liberating black people from the oppression of…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

How will the violent unrest in New Caledonia affect global nickel prices?

  • May 22, 2024
How will the violent unrest in New Caledonia affect global nickel prices?

Michael Cohen has sworn he has nothing disparaging about Trump, another lie where all testimony ends

  • May 22, 2024
Michael Cohen has sworn he has nothing disparaging about Trump, another lie where all testimony ends

Megyn Kelly Educates Bill Maher on Hillary Clinton's Election Denial (VIDEO) | The Gateway expert

  • May 22, 2024
Megyn Kelly Educates Bill Maher on Hillary Clinton's Election Denial (VIDEO) |  The Gateway expert

SteelSeries releases limited Destiny 2: The Final Shape gear

  • May 22, 2024
SteelSeries releases limited Destiny 2: The Final Shape gear

Elections in South Africa: How Mandela's once revered ANC lost its way

  • May 22, 2024
Elections in South Africa: How Mandela's once revered ANC lost its way

Air Force veteran Monique DeSpain is running against Rep. Val Hoyle for the Oregon House seat

  • May 22, 2024
Air Force veteran Monique DeSpain is running against Rep. Val Hoyle for the Oregon House seat

Russian attacks on Ukraine's power grid hit Kiev with power outages ahead of peak demand

  • May 22, 2024
Russian attacks on Ukraine's power grid hit Kiev with power outages ahead of peak demand

Kellyanne Conway Explains How Joe Biden Lost Independent Voters (VIDEO) | The Gateway expert

  • May 22, 2024
Kellyanne Conway Explains How Joe Biden Lost Independent Voters (VIDEO) |  The Gateway expert

Paytm is calculating the cost of curbing regulations as losses mount

  • May 22, 2024
Paytm is calculating the cost of curbing regulations as losses mount

Longtime lawmaker Mike Simpson wins the Republican Party primary for Idaho's second congressional district

  • May 22, 2024
Longtime lawmaker Mike Simpson wins the Republican Party primary for Idaho's second congressional district

Hawaii court orders drug companies to pay $916 million in Plavix blood thinner lawsuit

  • May 22, 2024
Hawaii court orders drug companies to pay $916 million in Plavix blood thinner lawsuit