"I'm concerned" — Shark Tank investor Kevin O'Leary on TikTok's 7 million businesses

Kevin O'Leary, a Shark Tank investor, recently voiced concerns over the 7 million businesses that depend on TikTok to keep their enterprises running. In an Instagram post of a video clip from his CNN interview on January 18, 2025, O'Leary said he is concerned about making sure these businesses get a chance to invest with him in TikTok.

"I'm concerned about the 7 million businesses on TikTok that make their living there," he said.

His concern centers around the idea of giving these businesses a chance to become shareholders in the platform, allowing them to benefit directly from its success. He explained that TikTok is critical for the digital marketing strategies of many businesses, including his own, where 60% of digital spend is directed towards TikTok.

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Shark Tanks Kevin O'Leary addresses concerns over TikTok's impact on small businesses

The "People's Bid" and the Jobs Act

The "people's bid" is an important element of O'Leary's participation in this effort. It is about the opportunity for small businesses to invest in TikTok at a par with traditional investors. O'Leary cited the U.S. Jobs Act as stating that people are allowed to invest in companies based on the amount they want to put in.

He emphasized that this law is vital in ensuring that businesses have the opportunity to become shareholders in TikTok, even if they are not large, institutional investors.

"I want to make sure that they have an opportunity, using a law here in the U.S. called the Jobs Act to be able to invest beside me, no matter what amount they want to put in," O'Leary explained.

The Shark Tank investor underscored that this initiative aims to give businesses the chance to invest in the platform they depend on, fostering a sense of shared ownership and involvement in TikTok’s growth.

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Political considerations and the TikTok deal

O'Leary also discussed the political dynamics surrounding TikTok's future, particularly the U.S. government's regulatory stance. He referred to a recent ruling by the Supreme Court, which concluded that the algorithm behind TikTok could not be sold to a U.S. syndicate. The Shark Tank investor highlighted this decision, stating,

“A few hours ago when the Supreme Court rendered their decision 9-0, that’s incredibly definitive.”

He emphasized that the Court’s ruling made it clear that the algorithm could not be part of any sale, forcing the potential buyer to rewrite the algorithm instead. O'Leary noted that his proposal, which was announced two weeks prior, does not involve purchasing the algorithm, explaining that this is no longer an option. Instead, he described the necessity of rewriting the algorithm:

"We have to. We have no choice."

The Shark Tank investor also referred to the potential for the Biden administration to extend negotiations, saying that the U.S. President has the authority to extend talks by 90 days if a viable Letter of Intent (LOI) is presented.

He also emphasized that the future of TikTok is not a partisan matter because it is being noticed by the Biden administration and even the Trump administration, where he pointed out the terms and the proposal itself.

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The importance of TikTok for small businesses

In his remarks, O'Leary emphasized the importance of TikTok for small businesses, noting that many U.S. businesses use the platform for marketing and customer engagement.

"All of those, they’re two generations of Shark Tankers, as I call them."

The Shark Tank investor explained that many small businesses, regardless of their political affiliation, rely on TikTok for their livelihood.

"So we have millions of shareholders in this deal that are all involved in supporting it and making their living from it."

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