In a recent share buyback offer, ByteDance declared its net worth to be at $300 billion in valuation in 2024. In September 2022, the WSJ previously reported on a the ByteDance’s buyback offer at a $300 billion valuation. However, a year later, its value dropped by 26%, reducing it valuation down to $223 billion.
Perhaps, TikTok is getting a renewed hope in the United States after Donald Trump won his second term as president. During Trump’s campaign, he subsequently posted that he will “SAVE TIKTOK IN AMERICA.” More so, Republican megadonor Jeff Yass is a major ByteDance investor.
These could mean fewer restrictions or challenges for the company compared to past concerns. Recall that In April, President Joe Biden signed a bill that would ban TikTok from the United States if ByteDance failed to sell the short-form video app.
The company was given nine months to make the sale, with the president given the option to extend the deadline by an extra three months. (ByteDance is still currently suing the US government over the ban.)
