TikTok’s Newest Suitor Wants To Give Creators Monthly Payments

It’s still murky, but the bidding process for TikTok is beginning to come into focus. Last week, my colleagues reported Oracle was the lead contender among a group of bidders. Today I have more details about one of them—Reid Rasner, a Wyoming entrepreneur, who last month said he was making a bid worth more than $47 billion for TikTok’s U.S. business. 

Rasner, who is CEO and founder of wealth management firm Omnivest Financial, is trying to make a splash in the TikTok bidding with a promise to pay TikTok creators and everyday users on a monthly basis if his offer succeeds. On Monday, he said the initiative would pay every user of the app based on “the value they bring to the platform,” with top influencers earning more than other users. TikTok would still be free to use under the plan.