Republican Lawmaker: ByteDance Investors Could Profit from TikTok Sale

Republican Representative Mike Gallagher suggests ByteDance investors could benefit from a TikTok sale, easing concerns over Chinese influence. Efforts to address this issue gained momentum in an election year.

Gallagher's House bill, aimed at forcing ByteDance to divest TikTok, received bipartisan support. While concerns exist over banning TikTok, Gallagher believes a sale could happen before November. He argues it would enhance the app's user experience and potentially increase its value.

President Biden is open to signing the bill, but seeks ByteDance's exit from control. Senators also back the bill, with some calling for American ownership.