He has partnered with tech entrepreneur Jesse Tinsley, founder of the online HR company employer.com, to present an “all-cash offer” for the social media platform’s US operations.

This came as President Donald Trump expressed openness to US tech billionaires Elon Musk and Larry Ellison potentially buying the short-form video-hosting service.

Donaldson has publicly shown interest in acquiring TikTok through various social media posts. “I’ll buy TikTok so it doesn’t get banned,” he stated in a post on January 13. In another post, he mentioned discussing a bid with several billionaires.

The US law firm Paul Hastings confirmed Donaldson’s bid in a statement that did not disclose the bid amount, although Trump estimated the app’s value at $1 trillion (£811 billion) on Tuesday.

Hastings noted that the legal team advising on the bid is led by Brad Bondi, who is the brother of Pam Bondi, Trump’s nominee for US attorney general.

Trump said that TikTok was worth $1 trillion with a “permit” to operate in the US, under 50% US ownership.

Read more

TikTok CEO expects to defeat US ban: ‘We aren’t going anywhere’

TikTok appeals to US Supreme Court to delay potential ban set for next month

TikTok faces potential ban in the US by 2025 following court ruling

TikTok had to take action before a January 19 deadline, requiring its Chinese parent company to sell the app’s US division or risk a de facto ban.

The US Supreme Court refused to rescue TikTok on Friday January 17, from a law that required the popular short-video app to be sold by its Chinese parent company ByteDance or banned on Sunday in the US on national security grounds—a major blow to a platform used by nearly half of all Americans.

Trump said on Saturday, January 19, he would “most likely” give TikTok a 90-day reprieve from a potential ban after he takes office on Monday, as the app with 170 million American users buzzed with nervous anticipation ahead of a shutdown set for Sunday.