Mnuchin says he's assembling group to buy TikTok
Former Treasury Secretary Steven Mnuchin said Thursday that he is putting together a group to buy TikTok after the House passed a bill that would require the app's China-based parent company to divest or face a U.S. ban.
“I think the legislation should pass, and I think it should be sold,” Mnuchin said on CNBC’s “Squawk Box,” adding, “It’s a great business, and I’m going to put together a group to buy TikTok.”
Mnuchin, who served as Treasury secretary under former President Trump, noted that Trump signed an order requiring ByteDance to divest from TikTok’s U.S. operations while he was in office. The order was later overturned in court.
“This should be owned by U.S. businesses,” Mnuchin said. “There’s no way that the Chinese would ever let a U.S. company own something like this in China.”
Trump, however, has come out against the House bill that could ban TikTok, arguing that it would help Facebook and Meta CEO Mark Zuckerberg.
The former president was banned from Facebook in 2021 in the wake of the Capitol riot for spreading false claims about the 2020 election in the lead-up to Jan. 6, 2021. His account was reinstated last year.
Trump also confirmed meeting with top GOP donor Jeffrey Yass, a major investor in ByteDance, but said the issue of TikTok did not come up.