Pro-Trump Billionaire from Wyoming is Current Highest Bidder to Buy TikTok

Pro-Trump Wyoming entrepreneur Reid Rasner is the current highest bidder to buy TikTok, with a massive $47.45 billion offer.

During the Biden administration, Congress passed legislation forcing TikTok’s parent company, ByteDance, to sell or be banned in the United States.

After Trump’s inauguration, he extended the deadline to sell by 75 days.

Rasner, CEO of wealth management company Omnivest Financial, discussed his offer with NBC News on Thursday, saying the Trump administration has reviewed his bid.

“I think they’re taking it very seriously from what it sounds like,” Rasner said. “There’s no holding back. The money isn’t the issue right now, bringing all the pieces together is the issue.”

Rasner’s bid is higher than what Elon Musk paid for X.

“We’re nearly $50 billion- $20 billion more than any bid out there. So we are the highest bid at the table,” Rasner said this week on Just the News, No Noise. “Not only that, we’re delivering a massive, 100 day win for President Trump by creating the sovereign wealth fund. We are donating 5% of our TikTok bid, 5% of $50 billion to the sovereign wealth fund.”

Under Rasner’s plan, the platform will offer paid tiers — similar to the model X implemented after Musk’s purchase.

Just the News reports:

Rasner further highlighted that his bid would offer the United States government the ability to buy into the platform at the $50 billion valuation sum, saying “even if it’s worth $100 billion or a trillion dollars, like President Trump says, the United States government can take a larger stake in TikTok, if they’d like, and increase their shares in the sovereign wealth fund.”

Trump signed an executive order early in his term to create a sovereign wealth fund for the United States. Essentially a colossal investment portfolio, such funds are usually aimed at maximizing long-term gains.

Rasner’s bid has not yet been approved, but he may secure ownership of the platform largely due to the size of his bid. The current deadline for the platform to sell stands at April 5. The Wyoming billionaire insisted he was working to make sure that ByteDance would be satisfied with his terms and follow through on the sale.

“So I want to make sure that ByteDance has a fair offer on the table to accept, and I want to make sure they walk away happy,” he said. “I want to make sure the American people are happy with what’s happening. And I want to make sure that President Trump, above all else, is happy with what’s happening.”

“One, it’s a great value for the company,” Rasner added. “We get to protect a national security risk right now with the data and how it’s being leveraged against Americans and used against Americans, not only that, but we get to revolutionize an entire industry.”

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