A wealthy Wyoming entrepreneur has made an offer to buy TikTok for nearly $50 billion, The Post can reveal.
Reid Rasner, who owns both media and wealth management firms in the state, is seeking “a controlling stake” in TikTok’s assets, operations and proprietary algorithm for $47.45 billion, according to a copy of a letter obtained by The Post that Rasner’s lawyer sent to the app’s Chinese parent company.
“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 states.
“This initiative will bring high-skilled workers, cutting-edge innovation, and new investment opportunities into the state, strengthening the economy while ensuring Wyoming remains a national leader in multiple sectors.”
President Trump had pledged to “save TikTok” before taking office and signed an executive order on Day One granting a 75-day reprieve from a law signed by former President Biden that mandated the qualified divestment of the app from its Chinese parent company.
“I met with the owners of Tiktok, the big owners, it’s worthless if it doesn’t get a permit,” he told reporters at the White House in January during a $500 billion AI infrastructure project announcement involving Oracle, Softbank and OpenAI.
“It’s worth like a trillion dollars,” the president added. “So what I’m thinking about saying to somebody is, ‘buy it and give half to the United States of America, and we’ll give you the permit, and they’ll have a great partner.”
Oracle co-founder Larry Ellison had been floated as a potential buyer earlier this year for the social media app, which is owned by the Chinese firm ByteDance.
Oracle, which is based in Austin, Texas, already serves as a cloud computing partner for TikTok.
Others rumored to have interest include Tesla and SpaceX founder Elon Musk as well as billionaire Frank McCourt and “Shark Tank” star Kevin O’Leary, who have said they have $20 billion in commitments as part of a plan to buy the TikTok brand and rebuild its algorithm from scratch on US soil.
