preloader icon

Apex Trader Funding (ATF) - News

Former Treasury Secretary Steven Mnuchin is interested in buying TikTok

New York CNN  —  Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. This comes a day after the House passed a measure to ban the Chinese-owned social media giant or force a sale to a US-operated owner. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told CNBC Thursday morning. Even though TikTok is likely unprofitable, “it’s worth a lot of money,” he added. Mnuchin said he would give existing US investors the option to roll over their stakes in TikTok but stressed that no entity would have more than 10% control. The news comes just one week after Mnuchin led a $1 billion lifeline rescue of embattled regional lender New York Community Bank. This is a developing story and will be updated.