Casper-based entrepreneur Reid Rasner has made headlines with a bold $47.45 billion bid to acquire a controlling stake in the popular social media platform TikTok.
In addition to keeping the platform operational for its 170 million American users, Rasner aims to establish TikTok’s American headquarters in Wyoming, contributing significantly to the state’s economy.
Rasner emphasized that the proposed deal would not only preserve the platform’s US presence but also create a global technology hub in Wyoming, boosting the state’s economic sectors alongside energy, tourism, and agriculture. He sees Wyoming’s abundant energy resources, supercomputers, and data centers as essential assets for TikTok’s operations.
“This is about creating thousands of high-paying jobs and tapping into our local workforce,” Rasner told Oil City News.
He explained that while TikTok’s ties to China through its parent company, ByteDance, have sparked national security concerns, his team is working diligently to separate the platform from its Chinese ownership. Rasner assures that the transition would ensure that TikTok’s operations would be fully American-controlled, cutting ties with China on Day One.
The pressure is mounting as the clock is ticking toward April 4, 2025, the deadline for ByteDance to divest from TikTok’s US operations or face a nationwide ban. The US government, citing national security concerns about Chinese access to American user data, passed legislation requiring ByteDance to sell its US operations to an American entity. In January, the Supreme Court upheld the law, leaving TikTok’s future in the US uncertain without a successful acquisition.
In a race to secure TikTok’s US presence, Rasner’s bid has been positioned as the most robust yet.
“We’re confident in our offer and our ability to get this deal done,” Rasner remarked.
He noted that discussions with engineers and professionals have been ongoing for months to ensure compliance with legal requirements.
Rasner also expressed confidence in Wyoming’s role in the process, stating that the state’s resources and infrastructure make it an ideal home for TikTok’s operations. His plan includes bringing the company’s headquarters to Wyoming, creating a hub for technology and innovation that would positively impact the state’s economy.
Beyond his business ventures, Rasner has a personal stake in Wyoming’s future. A fourth-generation Wyomingite and University of Wyoming graduate, he is the CEO of Omnivest Financial and previously ran for US Senate in 2024. He believes that the TikTok deal could generate economic growth of unprecedented scale for the state.
Already, TikTok has made a notable economic impact in Wyoming, contributing $38 million annually to the state’s GDP and supporting hundreds of jobs. Local businesses like the Jackson dogsledding company Call of the Wyld have used the platform to gain national exposure, showing how TikTok’s influence extends far beyond its virtual presence.
Rasner’s efforts are part of a broader vision to position Wyoming as a technological leader, and he is optimistic about the future.
“Wyoming should be rooting for this,” he said.
He pointed to the potential economic boom that a successful acquisition could bring.
Oil City News and Cowboy State Daily reports.
