Former Treasury Secretary Steven Mnuchin is assembling an investor group to buy TikTok. This move comes after the House of Representatives passed a bill that would force ByteDance, TikTok’s parent company, to divest its US operations or face a ban. Mnuchin, who leads Liberty Strategic Capital, sees TikTok as a valuable business and plans to give existing US investors the option to roll over their stakes, ensuring no entity has more than 10% control. The bill is now headed to the Senate, and President Joe Biden has indicated he will sign it if it reaches his desk.
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