"Chinese spyware": Shark Tank investor Kevin O'Leary talks about TikTok's upcoming hearing

Shark Tank investor Kevin O'Leary took to his Instagram account to post a clip of his interview with Fox Business about TikTok's future in the US. In the clip shared on January 2, 2025, O'Leary reinforced his position on the national security risks posed by TikTok, which is owned by ByteDance, a Chinese company.

The businessman also announced the launch of a campaign aimed at making the platform secure and fully controlled by American entities.

“On January 10th, the company which is in a dream land hoping that somehow Trump would save them or anybody else would is going to get a shock when they hear back from the justices at the Supreme Court, sorry this is not about free speech, it’s about Chinese spyware,” he noted.

O'Leary's statements came days before the January 10, 2024, Supreme Court hearing which will consider the legality of imposing restrictions or requiring ByteDance to sell its operations in the US. It is worth noting that ByteDance, TikTok's parent company, is a Chinese organization based out of Beijing.

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Shark Tank's Kevin O'Leary discusses the future of TikTok amid security concerns and Supreme Court hearing

Shark Tank's Kevin O'Leary posted a clip of his interview with Fox Business on Instagram along with a caption detailing his position about TikTok. He wrote that it was "time to make TikTok WONDERFUL again," before explaining his objective to lead efforts to acquire TikTok and transition it to American ownership.

His Instagram post also included a link to wonderfultiktok.com and a disclaimer clarifying that no financial commitments are being sought at this time. He added that a "person's indication of interest" didn't involve any obligation or commitment of any kind.

The Shark Tank investor emphasized that addressing privacy concerns and regulatory compliance would be critical components of any future restructuring.

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Kevin O’Leary's position on TikTok

In the interview with Fox Business, O'Leary elaborated on his perspective, outlining a sequence of events he expects to unfold. He noted that ByteDance would have to present "the very best letter of intent" to potential buyers that it wanted to sell its US TikTok business.

The Biden administration could also agree to grant a 90-day extension of time for a sale. Beijing would then face the choice to approve the sale or risk disinvestment in Chinese companies by US investors. Kevin O'Leary noted that the choice to sell TikTok to an American entity would lie with Beijing.

“The Chinese Supreme Leader will get to choose: do I shut down all my American investors and tell the whole world never invest in Chinese companies, or do I sell to an American entity?” he added.

The Shark Tank investor underscored his belief that China would prioritize maintaining international investment relationships over retaining TikTok’s US operations.

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Supreme Court hearing and national security concerns

The case is likely to be discussed at the upcoming hearing on whether the federal government can impose restrictions on TikTok, owned by ByteDance. Critics of the app include several US lawmakers, who are worried that it enables unauthorized access to user data, raising the potential for risks to national security.

O'Leary explained that this situation represents a broader debate about foreign-owned platforms operating in the United States. The businessman said TikTok's legal arguments are unlikely to succeed, saying that they will "get a shock" when they hear back from the Supreme Court justices.

The Shark Tank investor anticipates that the hearing will solidify the government’s authority to impose divestiture or restrictions.

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