As TikTok’s future hangs in the balance, billionaires are preparing their offers to buy the company and make it fully American.

In April, a new law mandated that the Chinese video-sharing app must either be sold by owners ByteDance or be banned outright in the U.S. over concerns about its use of personal data.

The Supreme Court will hear the final appeals in January, but “things aren’t looking good for TikTok,” said Joel Thayer, a technology policy attorney and president of the Digital Progress Institute.

However, the potential sell-off creates a huge opportunity for US investors. Frank McCourt, executive chairman of investment firm McCourt Global and founder of Project Liberty, told NYNext: “We’ve been developing the technology for five years…we have the capital and the technology and can now make it a better experience for TikTok users.” ”

If TikTok is sold, ByteDance has already stated that the extremely addictive algorithm that keeps users glued to the app will not be part of the sale.

Any potential buyer would get the brand name, a video library and a user base of millions – but would have to develop the algorithmic technology from scratch.

McCourt sees this as a way to recreate apps like TikTok on an open-source basis, allowing people to take ownership of their data. To achieve this goal, he invested $500 million in Project Liberty in 2021. “I met twenty big influencers on TikTok – we just had dinner in Malibu. They are excited about the prospect of engaging their audience,” he added.

Shark Tank judge Kevin O’Leary is also interested in acquiring TikTok and seeking support from small business owners on the platform through a crowdfunding effort – he’s trying to get an offer that doesn’t result in the app being sold alone to a multinational -Billion dollar company owned companies.

Participants can invest as little as a thousand dollars for a small equity stake in the company. “The buyer will probably be a combination of syndicates, and I’ve spoken to almost all of them… we could combine,” Kevin O’Leary told NYNext about how he’s preparing for the potential sale of TikTok.

He is also ambitiously looking beyond US borders to potentially reach out to the world’s most populous country, India, which has also banned TikTok. “The first thing I’ll do is fly to India and talk to (Prime Minister) Modi… they can work with us,” explains O’Leary.

Both men see the ability to rebuild the algorithm from scratch as a chance to create a new kind of platform that gives users more control — and curb China’s ability to spy on American users.

TikTok’s price is still unclear, but potential buyers say it will be significantly cheaper without the algorithm. “Without the algorithm, there’s no chance of it being worth even $35 billion,” O’Leary adds.

Both he and McCourt say they have the resources to get a deal done. However, any sale would need to be approved by China’s Ministry of Commerce – which would pose other potential hurdles along the way.

One potential investor who could have an edge on this front is Bobby Kotick, former CEO of video game giant Activision Blizzard. Kotick is close to Elon Musk, has experience building and running a tech giant, and has close relationships with current ByteDance investors.

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But sources close to him say he is far more cautious about publicly promoting a bid – at least until the Supreme Court issues its ruling.

In 2020, a deal was struck between Oracle and Walmart to purchase 20% of TikTok, but it never closed. Both remained tight-lipped about the possibility of participating in the bidding this time, but Walmart CEO Doug McMillon has maintained contact with ByteDance, according to sources.

Other tech giants such as Meta and Apple will not be allowed to bid for the platform as it would be considered a violation of antitrust laws, sources add.

Former Treasury Secretary Steve Mnuchin previously said he was interested in buying the app – with support primarily from Saudi Arabia – but has backed away from a possible offer, sources add. Interested backers say they are focused on raising money exclusively from U.S. buyers.

“This will be something that can only be bought with domestic money,” said a source involved.

One figure likely to play a key role in the sale is President-elect Donald Trump.

As The Post reported earlier this week, Trump wants to keep his promise to “save” TikTok while still addressing Congress’ national security concerns by helping broker the sale.

Potential buyers are also confident. McCourt added: “Trump is a dealmaker.”