Former Treasury Secretary Steven Mnuchin said he is putting together an investor group to try to buy TikTok.
Mnuchin’s statements come shortly after the House of Representatives on Wednesday passed a bill that would force ByteDance to divest TikTok or the social media site would face a ban in the U.S.
“I think the legislation should pass and I think it should be sold,” Mnuchin told CNBC’s “Squawk Box” on Thursday. “It’s a great business and I’m going to put together a group to buy TikTok.”
Mnuchin did not specify who the other investors would be in such a deal.
This would not be the first high profile deal Mnuchin has been involved in since leaving the Treasury. Last week, Mnuchin’s Liberty Strategic Capital was a lead investor in a $1 billion capital raise to stabilize New York Community Bancorp.
CNBC has the breaking development here.
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