"TikTok is Trump's deal" — Shark Tank's Kevin O'Leary shares his opinion on rumors of Elon Musk buying the platform

In a recent video posted on Kevin O'Leary's Instagram account, the investor shared his opinion on the swirling rumor about the possibility of Elon Musk buying TikTok. Known for his straightforward approach when it comes to making deals on the show, O'Leary said he believed it is quite difficult for Musk to crack this deal with Trump's eyes on the social media platform.

Kevin O'Leary, also known as "Mr. Wonderful" on Shark Tank, is a venture capitalist, entrepreneur, and television personality famous for his no-nonsense approach to business. With decades of experience in investment and business turnarounds, he has become one of the most well-known figures in the entrepreneurial community. Aside from his appearances on the show, O'Leary is a popular economic and political analyst, frequently combining his financial experience with sharp insights into global trends.

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Shark Tank's Kevin OLeary shares his opinion on rumors about Elon buying the platform

Kevin O'Leary recently addressed his thoughts on the idea that Elon Musk may buy TikTok. O'Leary expressed his forthright opinion on Instagram in a short clip from a FOX News interview. When the anchor asked the Shark Tank expert if he had heard of the news, he replied, "Yes, I've heard that report."

"Over the weekend, it was Zuck. He was at Mar-a-Lago, that's public record. There's a problem with existing social media platforms. It's called the regulator. They don't like monopolies."

Kevin O'Leary raised an essential issue with platforms like TikTok: Regulatory agencies are leery of monopolies and may oppose further consolidation of power in the internet industry.

"We put our bid in knowing that we're not serving anybody. We're going to make this people's platform with equity crowdfunding, allowing people on TikTok to own a piece of it, beholden to no one social media site that exists today."

The Shark Tank expert suggested turning TikTok into a user-owned platform through equity crowdfunding. This proposal would decentralize ownership, allowing the platform to function independently of huge firms while avoiding the monopolistic tendencies that regulators are concerned about.

"Look, I'm a huge Elon Musk fan. No question about it. He's a phenomenal entrepreneur. But the idea that the regulator, even under Trump's administration, would allow this is pretty slim."

As the conversation progressed, O'Leary questioned Musk's ability to acquire TikTok. He emphasizes that regulatory constraints, even during Trump's term, would most likely prohibit such a transaction due to the platform's strategic and political importance.

"In the end, TikTok is Trump's deal. He's not giving it to anybody else. It's his deal. He's going to use it for all kinds of leverage. I get it. It's a negotiating tool against China. I get it. "But he is the consummate deal maker. He's not going to let this drift into someone else's hands. That's my personal take."

O’Leary argued that TikTok is more than just a social media platform; it’s a strategic asset for former President Trump. He believes Trump views TikTok as a bargaining chip in negotiations with China and will retain control over its future to maximize its leverage. He believes Trump will retain TikTok within his sphere of influence for strategic considerations.

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Watch Kevin O'Leary on Shark Tank, only on ABC.