- READ MORE: House votes to force TikTok owner ByteDance to divest app
- DailyMail.com breaks down the realities of the app being banned in the US
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Donald Trump’s former Treasury Secretary Steve Mnuchin has revealed that he is gathering a group of investors to buy TikTok.
Mnuchin announced the bid less than 24 hours after the House passed a bill that would force its Chinese-backed parent to divest the social media app or face a U.S. ban
“I think the legislation should be passed and I think it should be sold,” Mnuchin told CNBC’s ‘Squawk Box’ Thursday morning. ‘It’s a great business and I’m going to put together a group to buy TikTok.
“This should be owned by American companies,” he added. “There’s no way the Chinese would ever let an American company own something like this in China.”
TikTok CEO Shou Zi Chew has promised that the company will exercise its legal rights to prevent a ban.
Donald Trump’s former Treasury Secretary Steve Mnuchin has revealed that he is gathering a group of investors to try to buy TikTok. He is pictured with his wife Louise Linton in 2017
The bill on TikTok’s future is now on its way to the Senate. It is unclear whether it will pass, but President Joe Biden has said he will sign the law if it does.
Trump, Mnuchin’s former boss, is one of the high-profile figures who has come out against the ban.
The former president says getting rid of the app in the US would strengthen other social media platforms such as Facebook, which he described as ‘the enemy of the people’.