Entrepreneur Reid Rasner offers to buy TikTok for $50 billion
A wealthy entrepreneur from Wyoming has submitted an offer to acquire TikTok for nearly $50 billion. Reid Rasner, who owns media and wealth management firms in the state, is seeking a controlling stake in TikTok’s assets, operations, and proprietary algorithm for $47.45 billion, according to a letter obtained by The Post that his lawyer sent to the app’s Chinese parent company.
Proposed impact on Wyoming’s economy
The letter outlines Rasner’s vision to establish TikTok’s operations in Wyoming, aiming to drive economic diversification and create thousands of high-paying jobs.
“By establishing TikTok’s operations in Wyoming, Reid Rasner will ignite a new era of economic diversification, creating thousands of high-paying jobs that will not only benefit the tech sector but also supercharge Wyoming’s energy, agriculture, and tourism industries,” the letter states.
“This initiative will bring high-skilled workers, cutting-edge innovation, and new investment opportunities into the state, strengthening the economy while ensuring Wyoming remains a national leader in multiple sectors.”
President Trump’s stance on TikTok’s future
President Donald Trump had pledged to “save TikTok” before assuming office and signed an executive order on his first day granting a 75-day reprieve from a law signed by former President Joe Biden that required TikTok’s divestment from its Chinese parent company.
“I met with the owners of TikTok, the big owners. It’s worthless if it doesn’t get a permit,” Trump said in January during the announcement of a $500 billion AI infrastructure project involving Oracle, SoftBank, and OpenAI.
“It’s worth like a trillion dollars,” he added. “So what I’m thinking about saying to somebody is, ‘buy it and give half to the United States of America, and we’ll give you the permit, and they’ll have a great partner.’”
Potential buyers and interest in TikTok
Oracle co-founder Larry Ellison has been mentioned as a potential buyer for TikTok. Oracle, based in Austin, Texas, currently serves as a cloud computing partner for the social media platform.
Other investors rumored to have interest in acquiring TikTok include Tesla and SpaceX founder Elon Musk, billionaire Frank McCourt, and “Shark Tank” star Kevin O’Leary. McCourt and O’Leary have reportedly secured $20 billion in commitments as part of a plan to purchase the TikTok brand and rebuild its algorithm on US soil.
