A Wyoming entrepreneur has made a bold move to acquire TikTok, offering nearly $50 billion for control of the social media giant.
Reid Rasner, 40, a prominent businessman who has founded multiple firms in Wyoming and currently leads a media company, has submitted a $47.45 billion bid to purchase a controlling stake in TikTok’s assets, operations, and proprietary algorithm. The offer was detailed in a letter sent Tuesday by Rasner’s legal counsel to ByteDance, the app’s Chinese parent company.
According to a copy of the letter obtained by The New York Post, Rasner aims to reposition TikTok’s operations within the United States, specifically in Wyoming, as part of an ambitious economic development strategy.
“By establishing TikTok’s operations in Wyoming, Reid will ignite a new era of economic diversification, creating thousands of high-paying jobs that will not only benefit the tech sector but also supercharge Wyoming’s energy, agriculture, and tourism industries,” the letter from Rasner Media counsel Steve Roberts states.
If successful, Rasner’s acquisition would mark one of the most significant private purchases in the tech industry, positioning Wyoming as an unexpected hub for social media innovation. The bid also comes amid ongoing U.S. scrutiny of TikTok over data security concerns and potential government intervention in its operations.
It remains to be seen whether ByteDance will entertain the offer, as the company continues to navigate regulatory challenges and interest from other potential buyers. However, Rasner’s proposal underscores the growing interest in domestic ownership of TikTok, with the deadline for TikTok to be sold or cease operation in the US looming, as Trump's 75-day extension of the timeline is coming.
When asked about the bid to purchase TikTok, Rasner affirmed "it's 100% legit."
More details on the bid’s progress and ByteDance’s response are expected in the coming weeks. The Trump administration is likely to look favorably on Rasner's offer, because of Rasner's strong support of the Trump campaign during the 2024 election.
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