A Wyoming investor has made a bold move to acquire TikTok, offering $47.45 billion in an effort to bring the popular social media platform under US ownership, Q2 Montana’s News Leader Billings reports.
Reid Rasner, a Casper native and CEO of Omnivest Financial, believes that if his bid is successful, it could not only protect national security but also transform Wyoming into a tech hub akin to Silicon Valley.
TikTok, owned by the Chinese company ByteDance, has faced scrutiny over data security concerns, with critics warning that user information could be accessed by the Chinese government. In response, Congress passed legislation in 2024 requiring TikTok to be sold to a US company or face a ban.
On January 19, 2025, President Donald Trump issued an executive order giving ByteDance 75 days to find a US buyer before an April deadline. The Biden administration had previously raised similar concerns, and both administrations have sought a resolution that protects American national security interests.
Rasner and his investment group see this as an opportunity to not only keep TikTok operational in the US but also revamp Wyoming’s economy.
Rasner argues that owning TikTok would benefit both Wyoming and the Mountain West region, integrating the app’s technology with the state’s traditional industries: energy, agriculture, and tourism.
“It’s an amazing investment for America,” Rasner said. “It’s an amazing investment for Wyoming, and the Mountain West states will all benefit from this, that’s for sure.”
He envisions Wyoming becoming a center for technology and innovation, challenging the dominance of Silicon Valley.
Rasner’s bid is not just about business—it’s also about national security. He claims that more than 170 million American TikTok users may have had their data compromised.
“We’re going to acquire TikTok and the algorithm, and there will be a clean break from ByteDance and the Chinese government,” Rasner said. “And we’re going to bring it home right here to America.”
Rasner is not the only investor looking to purchase TikTok. Entrepreneur and Shark Tank star Kevin O’Leary and YouTube personality Mr. Beast have also expressed interest in acquiring the platform.
Despite the competition, Rasner remains confident in his ability to get the deal done.
Concerns over Chinese government influence on TikTok are not new. In 2023, Montana passed a law banning TikTok, though it was later blocked in court.
Montana State Senator Shelly Vance, who sponsored the bill, supports Rasner’s effort to transfer TikTok to US ownership.
“It looks like it’s going to move into what the whole intent of the bill was,” Vance said. “It was completely all about the Chinese Communist Party and their evil ways.”
Rasner insists that TikTok, under US ownership, will remain a platform for free expression.
“We want to use these platforms as they were intended to be used,” Rasner said. “It’s social media, not censored media.”
