In the final months of the Trump administration, Treasury Secretary Steven Mnuchin scrambled to wrest TikTok away from its Chinese parent company, arguing that only a new U.S. owner could protect millions of Americans’ sensitive personal information from abuse.Four years later, though, Mnuchin has emerged as the most prominent prospective bidder for the popular video app — marking a unique twist in a long-running saga that has raised new ethics alarms in Washington.
Mnuchin declined to participate in an interview for this article. He did not answer written questions about the investors he has contacted or the source of his funding. After leaving the Trump administration in January 2021, Mnuchin formed his private equity firm, Liberty Strategic Capital, with money from“Under new ownership, TikTok has the potential to be a great U.S. business controlled by U.S.
In recent days, Mnuchin has acknowledged his rare vantage point. There are “certain things that I can’t talk about that I had access to,” he told CNBC this month. “But let’s just say when you have this app on everybody’s phone, it has the ability to collect an awful lot of data.” Under federal law, Mnuchin is subject to some restrictions in his pursuit of the company. He cannot divulge classified information, for example, and he is generally prohibited from trying to influence or communicate with the government over an issue he directly oversaw as treasury secretary.
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