Billionaire Frank McCourt organizes Project Liberty to bid for TikTok's U.S. business, aiming to restructure it with user empowerment and transparency.

Billionaire Frank McCourt is organizing a consortium, Project Liberty, to bid for TikTok's U.S. business, following the U.S. government's requirement for TikTok's Chinese parent company to sell the platform or face a ban. If successful, McCourt plans to restructure TikTok, focusing on empowering users and providing more transparency by migrating the platform to an open-source protocol.