Technology

Irish-American entrepreneur preps bids for TikTok’s US business

The brother of National Broadband Ireland chairman David McCourt is fronting a bid for the app’s US arm, which is valued at between $35bn and $40bn

Frank McCourt, executive chairman Of McCourt Global. Picture: Getty

Frank McCourt, an Irish-American real estate mogul, is building a consortium to bid for social media platform TikTok’s US business.

McCourt, whose brother David is chairman of National Broadband Ireland, is an unlikely contender for the business. A former owner of the Los Angeles Dodgers, he is also executive chairman of investment firm McCourt Global.

TikTok’s US assets were recently valued at $35 billion to $40 billion by Bloomberg Intelligence analysts.

President Joe Biden’s decision to force TikTok’s Chinese parent to sell the US app or face a ban, via a law signed this year as part of a more hawkish stance toward China, has inspired a diverse cast of characters to talk up potential bids.. Former US Treasury Secretary Steve Mnuchin said he was “ very interested” in the app, and Eric Schmidt, the former Google chief executive officer has also said he also considered a bid in the past.