Former US Treasury Secretary Steven Mnuchin proposed organizing a coalition of investors to buy the social networking platform TikTok, a move he described during an interview with NBC. He framed the idea as a strategic opportunity to bring together capital from diverse sources to acquire a platform that has become a major player in global digital culture and online communication.
Mnuchin also left open the possibility of supporting legislation that could lead to a ban on TikTok if Congress passes such a measure. He spoke of the policy option as part of a broader discussion about national security and the potential risks associated with the app’s ownership and data practices, indicating that no outcome could be dismissed out of hand at this stage.
During the same period, Mnuchin publicly commented that TikTok needs to be sold. He described TikTok as a strong business and indicated his intent to assemble a group of investors capable of taking on the acquisition, signaling a serious interest in reshaping the platform’s ownership structure through a private market transaction.
On the political front, a candidate for the US presidency, Donald Trump, suggested in mid-March that TikTok represented a threat to national security. The remark reflects a broader debate within the political sphere about whether foreign ownership of popular apps could pose vulnerabilities or strategic risks that warrant government intervention.
Earlier remarks from President Joe Biden indicated a willingness to consider a legislative route to ban TikTok if Congress approves the proposed measure. The stance illustrates a readiness to use regulatory tools to address concerns about data privacy, domestic access, and the potential influence of foreign entities on American users, particularly younger audiences who are heavy consumers of the platform.
In March, the US House of Representatives Commerce and Energy Committee voted unanimously to advance a bill that could pave the way for a TikTok ban within the United States, should it become law. The bipartisan support in the committee underscores the urgency some lawmakers assign to safeguarding national data and critical communications infrastructure from perceived external influence and data transfer risks associated with the app.
Additionally, the platform has continued to evolve beyond its original function as a short video service. It has integrated full-length music videos and expanded its feature set to compete with traditional streaming services, reflecting a broader strategy to become a multifaceted entertainment and social media destination. This evolution demonstrates the platform’s continued ambition to capture a larger share of digital media consumption while navigating regulatory scrutiny and shifting consumer expectations in North America and beyond.