Former Trump Administration's US Treasury Secretary Wants to Buy TikTok And Remove Its 'Algorithm'

By Thea Felicity

Mar 31, 2024 09:43 AM EDT

WASHINGTON, DC - DECEMBER 10: Treasury Secretary Steven Mnuchin testifies before the Congressional Oversight Commission during a hearing on the "Examination of Loans to Businesses Critical to Maintaining National Security" on Capitol Hill on December 10, 2020 in Washington, DC.
(Photo : Photo by Sarah Silbiger-Pool/Getty Images)

Former US Treasury Secretary Steven Mnuchin, under the Trump administration has expressed interest in buying TikTok, revealing plans to reconstruct the platform without its defining feature: the algorithm. 

Mnuchin's proposal, outlined during an interview on CNBC's "Squawk Box," aims to assemble a consortium of investors to facilitate the purchase within six months. This aligns with a bipartisan House bill mandating TikTok's sale to a US entity within 180 days. 

READ NEXT: Investors Led by Ex-Trump Official Invest $1 Billion to Troubled US Bank

Steven Mnuchin On Removing TikTok Algorithm

Although Steven Mnuchin has expressed his plans to buy TikTok and remove its algorithm, skeptics question his strategy. Concerned experts are wary of the algorithm's integral role in TikTok's success, which boasts over 170 million active US users and an estimated worth of $100 billion. 

According to Mnuchin, removing TikTok's algorithm will help bypass regulatory obstacles imposed by China within the United States. Critics pressed that recreating TikTok's algorithm is a feat that has eluded even major tech corporations.

Either way, the former Treasury Secretary has not presented comprehensive plans for the reconstruction of TikTok, leading to doubts about the practicality of his proposed timeline and strategy. 

Neither Mnuchin nor officials from TikTok have offered any comments or responses regarding inquiries about this matter.

For now, what's concrete about Mnuchin's plans is his investment in New York Community Bank, per VCPost, which will earn him an executive seat in the process.

READ MORE: ByteDance Investors Could Stand to Gain in TikTok Sale, US Lawmaker Claims

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