"Former Treasury Secretary Mnuchin Leads Investor Group in Potential TikTok Acquisition"

Former US Treasury Secretary Steven Mnuchin is considering leading a purchase of TikTok from its Chinese parent company, ByteDance Ltd., following bipartisan efforts to ban the app in the US due to concerns over Chinese government influence. Mnuchin's private investment firm, Liberty Strategic Capital, raised about $2.5 billion in 2021, but he would still need multiple equity investors to join any potential bid for TikTok, which is estimated to be worth $35 billion to $40 billion. Mnuchin believes the Chinese government would support a sale as long as there is no technology transfer, and he envisions remaking the social media app with homegrown technology in the US.