Daily Management Review

Steven Mnuchin assembles group of investors to buy TikTok


Steven Mnuchin, the former Treasury Secretary of the United States, is assembling a group of investors to purchase the TikTok service for making and watching short videos, reports CNBC.

Nordskov Media
Nordskov Media
A bill that might result in the ban of TikTok on US soil was approved by the House of Representatives of Congress a day prior. According to the document, TikTok's parent firm, ByteDance, is a Chinese company, and if it doesn't give it up, it might be prohibited in the US.

The Senate is currently debating the bill, and it's unclear how likely it is to pass there. US President Joe Biden has already committed to signing it in the event that the agreement is accepted by senators.

Mnuchin stated, "I believe that this bill should be approved and that it (the service) should be offered. It's a fantastic company, and I plan to organize a group to purchase TikTok."

"American businesses should be the ones to own TikTok. That the Chinese would permit an American business to possess something of this nature in China is unthinkable," Mnuchin remarked.

source: cnn.com