Reid Rasner, a 40-year-old Wyoming entrepreneur and media company executive, has submitted a $47.45 billion offer to acquire a controlling stake in TikTok’s U.S. assets, operations, and proprietary algorithm from Chinese parent company ByteDance. 

The proposal, detailed in a letter from Rasner Media’s legal counsel Steve Roberts, obtained by the New York Post, outlines plans to relocate TikTok’s operations to Wyoming.

The bid emerges amid ongoing discussions about TikTok’s ownership structure in the United States. On January 20, President Trump granted a 75-day extension to the divestment deadline established under previous legislation. 

During a White House announcement last month, Trump suggested a framework where potential buyers could partner with the U.S. government, indicating support for majority U.S. ownership of the platform currently serving more than 170 million American users.

Rasner’s proposal emphasized Wyoming’s energy infrastructure as a key advantage, citing the state’s “abundance of clean, low-cost energy sources” as crucial for TikTok’s operations. The entrepreneur, who founded Omnivest Financial and previously owned Wyoming Glass, has requested a six-month due diligence period before providing a formal letter of intent for the controlling stake purchase. His proposal includes plans for expanding Wyoming’s technology sector while supporting existing energy, agriculture, and tourism industries.

Alternative Proposals

Several high-profile figures have expressed interest in acquiring TikTok’s U.S. operations. 

Oracle’s Larry Ellison, whose company currently provides cloud computing services to TikTok, has been mentioned as a potential buyer. 

Additional interested parties include YouTuber MrBeast, as well as Frank McCourt and Kevin O’Leary, who have reportedly secured $20 billion in commitments for a plan to rebuild TikTok’s algorithm within U.S. borders.