O'Leary is teaming up with billionaire Frank McCourt to make a play for the app, which faces a nationwide-looking U.S. ban.

‘Shark Tank’ investor Kevin O’Leary is hoping to buy TikTok from ByteDance. The potential acquisition comes at a crucial time for the platform, which has over 170 million users in the United States alone.

Kevin O’Leary says he has a plan to save TikTok from a U.S. ban. The investor, of Shark Tank fame, told Fox News he and former Los Angeles Dodgers owner Frank McCourt, 71, have teamed up with other businessman to raise funds to purchase the Beijing-based social media giant’s U.

Shark Tank’s Kevin O’Leary — a.k.a. “Mr. Wonderful”—said he’s nearing a deal to buy TikTok from its Chinese-owned parent company ByteDance to avoid the U.S. ban on the social media app.

O'Leary, often referred to as "Mr. Wonderful" on Shark Tank, received many excited replies on social media. "I lend you $50b, and for every TikTok video, I take 10% of the revenue, in perpetuity" - Mr Wonderful," wrote one fan, mimicking the mogul's deal-making style from the show. "You're one person I trust. All The best!" wrote another fan.

Kevin O'Leary, star of “Shark Tank,” announced on Monday that he is getting close to acquiring TikTok's US business. He seeks Trump's help to finalise the deal.