This billionaire investor who tried to buy TikTok is now analyzing whether Trump’s deal is legal

Frank McCourt, a billionaire investor who previously expressed interest in acquiring TikTok, is now scrutinizing the legality of a proposed deal involving a majority-American investor group purchasing the app's U.S. assets. While McCourt has stated that it’s premature to determine his next steps—whether joining the ownership group or potentially challenging the agreement in court—he emphasizes the need for transparency regarding the arrangement. In a recent interview on CNN's Terms of Service podcast, McCourt revealed that he has enlisted experts to analyze the deal, which he believes raises several unanswered questions. His team is particularly focused on whether the agreement adheres to the sale-or-ban legislation enacted last year and whether it sufficiently addresses the national security issues that prompted the law. This ongoing situation is part of a broader saga that has seen repeated attempts to divest TikTok from its Chinese parent company, ByteDance, due to fears over the safety of U.S. user data. Delays in enforcing the sale-or-ban law have highlighted TikTok as a contentious topic within U.S.-China relations. McCourt was among the first high-profile figures to bid for TikTok, collaborating with prominent investors like Kevin O’Leary and Alexis Ohanian, with plans to purchase the app without its algorithm and reconstruct it using new technology developed by McCourt’s Project Liberty. As the White House moves forward with a deal that reportedly includes major players like Oracle and Silver Lake, McCourt remains committed to his objective of developing technology that empowers users to protect their personal data in an era dominated by artificial intelligence. He stated, 'Big tech platforms are scraping and accumulating our data, hyper-profiling us, and are not just selling ads but are manipulating us.' McCourt is advocating for individuals to regain ownership of their digital identities and control over their personal information. Recently, former President Trump signed an executive order affirming that the new agreement qualifies as a 'qualified divestiture,' which is a necessary step for advancing the sale of TikTok. However, many aspects of the deal remain ambiguous, including how the new ownership group will manage licensing TikTok's algorithm while addressing national security concerns. Part of the deal includes provisions for the algorithm to be retrained using U.S. user data, with Oracle overseeing how the content is presented to users. McCourt’s vision extends beyond TikTok as he aims to use the technology initially intended for the app to create a personalized AI agent that helps users control their data as they navigate the internet. This agent would allow users to dictate what information they are comfortable sharing and under what circumstances. The concept envisions a more equitable data-sharing economy where users could benefit financially from their data, thus challenging the traditional model where tech companies profit disproportionately from user information. McCourt believes that there remains significant economic potential for companies that align with his vision for a more user-empowered internet.