Finance News
Kevin O’Leary warns TikTok’s fate could be determined by ‘secret golden share’ granting Beijing ‘veto’ power

O’Leary Ventures Chairman Kevin O’Leary and Gristedes CEO John Catsimatidis join ‘Mornings with Maria’ to discuss the latest news involving the U.S. ban on TikTok and how Trump executive orders could impact the economy.
TikTok’s fate could be left up to Beijing thanks to a “secret” arrangement granting the Chinese government leverage over any potential deal involving the platform, “Shark Tank” investor Kevin O’Leary told FOX Business on Monday.
“There is something called a secret golden share that every Chinese company has to issue to the CCP leadership. That’s Xi [Jinping] himself, and it turns out that ByteDance can’t negotiate anything unless he’s made a decision,” the O’Leary Ventures Chairman told “Mornings with Maria” guest host Cheryl Casone.
“The secret share is a veto power over all other shareholders,” he explained. “They do not have any rights once the secret share has been issued, so now we’re dealing with what to do with the secret share, because until she decides what’s going to happen, it doesn’t matter what shareholders think or the CEO or any of the management, it’s irrelevant. It’s the secret golden share that determines the fate of TikTok now.”

O’Leary Ventures Chairman Kevin O’Leary discussed TikTok’s uncertain future while appearing on “Mornings with Maria” on Monday. (Ting Shen/Bloomberg via Getty Images / Getty Images)
As The New York Times explained, in this arrangement, the “Chinese government buys a small portion of a company’s equity in exchange for a seat on its board and veto power over certain company decisions.”
Speaking on the subject later on “Varney & Co.,” O’Leary said the news may come as a surprise to other investors involved with Chinese companies.
“They’re all subject to the holder of the secret golden share, and I would think that contravenes some U.S. securities laws, if you’re listed on a New York exchange or NASDAQ or any other exchange,” he said.
“Rumor has it today, here in Washington, that Lindsey [Graham]… will be launching a bill on this very shortly because we’re learning so much through this TikTok situation. There’s no deal yet. This deal now is in Trump’s hands and it will be his deal. Unfortunately, the option to extend 90 days is not currently in the existing law. So that’s going to have to be modified by Congress. And the option to have any Chinese ownership is not permitted by the 9 to 0 Supreme Court order. So… our hands are tied as buyers, and we are going to have to abide by the law unless President Trump is able to change it.”
TikTok has contrarily said, however, that, “an entity affiliated with the Chinese government owns 1% of a ByteDance subsidiary, Douyin Information Service,” and says the holding “has no bearing on ByteDance’s global operations outside of China, including TikTok,” according to Reuters.
The popular short video platform went dark for millions of users across the U.S. late Saturday after the Supreme Court, citing national security concerns, upheld a bipartisan law signed by President Biden last spring that required the app’s China-based parent company, ByteDance, to sell the platform or face a U.S. ban.
While briefly going dark, the app featured a shout-out to Trump, who had previously said he will “most likely” give TikTok a 90-day extension from the Sunday deadline after assuming office.

TikTok informed users on Saturday that it is no longer available due to the ban enacted in the U.S., while stating President-elect Trump is working on a solution. (TikTok / Fox News)
The app returned hours later, but its future remains in limbo.
Just minutes after the Supreme Court’s ruling, O’Leary put a $20 billion cash offer for the app on the table, arguing that selling to an American syndicate is the “obvious solution.”
He told Casone he has not had any negotiations with ByteDance thanks to the “golden share.”
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‘Shark Tank’ investor Kevin O’Leary talks TikTok’s future, the Chinese government’s role with a ‘secret golden share’ and the role Trump could play in keeping the platform available in the U.S.
Reuters and FOX Business’ Alexandra Koch, Bradford Betz and Landon Mion contributed to this report.
Finance News
Consumers may face higher beef prices from businesses

FOX Business correspondent Jeff Flock discusses the record ground beef prices due to supply issues on ‘Varney & Co.’
High beef prices have been weighing on U.S. businesses and consumers.
They have forced some businesses to make tough decisions about how to handle the increased costs, and some are passing the costs on to customers.
Rob Passio, the owner of Lombardi’s Prime Meats in Philadelphia, told FOX Business correspondent Jeff Flock on “Varney & Co” that “there’s only so much you can absorb as far as the hit to your bottom line before you say to yourself you have to raise these prices.”
The butcher shop, Passio said, hasn’t seen its customers balk at higher prices “because they see it.”
EGGS ARE NOT THE ONLY EXPENSIVE FOOD: BEEF PRICES ARE ALSO ON THE RISE

Organic ground beef Oct. 30, 2020, in Bavaria, Nuremberg (Daniel Karmann/picture alliance via Getty Images / Getty Images)
“They see the inflation. They see the pricing. You know, everything is up,” he told Flock.
Bureau of Labor Statistics inflation data measured by the consumer price index (CPI) showed prices for beef and veal were up 2.4% month-over-month and 7.6% year-over-year in February.
The overall CPI posted a 0.2% increase month-over-month and a 2.8% jump year-over-year.
Courtney Schmidt, sector manager at Wells Fargo Agri-Food Institute, told FOX Business last month that high beef prices were driven by tighter U.S. beef production with consistent consumer demand.
The U.S. cattle herd is experiencing a down cycle, with cattle inventories at historically low levels in 2025, according to Schmidt.

Demand for beef has remained strong since the pandemic, according to the American Farm Bureau Federation. (Kennedy Hayes/Fox News / Fox News)
The U.S. Department of Agriculture (USDA) reported in late January that U.S. farms had 86.7 million head of cattle and calves. The count for beef cows specifically was 27.9 million, a decline of 1% compared to the same time last year, according to the USDA.
“I know they’re killing smaller cattle, so they’re trying, I guess, to kill them faster to create the supply that demand is needing,” Passio said.
Some big companies source beef from Canada and Mexico, Flock reported on “Varney & Co.”
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President Donald Trump imposed 25% import tariffs on goods entering the U.S. from those two countries March 4 and, more recently, introduced exemptions for Mexico and Canada on goods under the United States-Mexico-Canada Agreement until early April.
Such a levy on imported beef would “increase the price,” according to Passio, adding that consumers “are going to pay for it.”
“My philosophy is to sell it as low as you can to show a savings, a value to the customer. And hopefully you have more customers to generate your revenue,” the Lombardi Prime Meats owner told Flock.

Packages of beef are displayed for sale at a supermarket Jan. 12, 2023, in Foster City, Calif. (Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)
In the U.S., ground beef averaged $5.63 per pound in February, while the per-pound price of boneless sirloin steak came in at $11.90, according to data from the Federal Reserve Bank of St. Louis. Those average prices were 9.6% and 1.6% higher, respectively, than the same month in 2024.
EGG PRICE SPIKE: WE ARE ‘PAST THE TOUGH PART,’ AGRICULTURE SECRETARY ROLLINS SAYS
The USDA projected in a report released this month that U.S. beef production is poised to amount to 26.685 billion pounds this year.
Daniella Genovese contributed to this report.
Finance News
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Finance News
Is a Florida condo crisis brewing? Real estate developers claim rising costs are necessary

Gutman Development Marketing’s Phil Gutman, The Continuum Company’s Ian Bruce Eichner and BH Group CEO Isaac Toledano explain to Fox News Digital why they support Florida’s ‘Condo 3.0’ bill.
High-rise condominium owners along the sunny and serene Florida coastlines are facing a costly reality, but prominent developers in the state argue surges in HOA fees and maintenance reserves are necessary to prevent a future tragedy.
“A lot of people have seen their maintenances double. They’ve seen some of the assessments become extremely unaffordable. It’s definitely impacted many residents here in Florida,” Gutman Development Marketing President Phil Gutman told Fox News Digital.
“There is a conflict, and the conflict is a bit complicated, and it’s a bit complex because you have three competing issues. One, you have the issue of safety. Two, you have older buildings,” Ian Bruce Eichner, The Continuum Company founder, also told Digital. “The last issue that comes from [the Condo 3.0 law] is a requirement that unless the condominium’s declaration, what the original offering said 50 years ago provides otherwise, you need 90% of the residents to agree to terminate the condominium.”
“We have the state, cities, city officials, code enforcement, city managers more involved in buildings. I think it’s important to prevent the next disaster, God forbid, the next catastrophe. Let’s not forget that there [are] thousands of old buildings, and thank God we didn’t see any other catastrophe except the Surfside building,” BH Group CEO and founder Isaac Toledano added.
IS ELON MUSK WARMING UP TO A SOUTH FLORIDA MOVE? REAL ESTATE INSIDERS SAY ‘REASONS ARE ENDLESS’
“I think the fact that you have more inspections, more regulations, I think it’s good for everybody and for everybody’s safety.”

Three prominent Florida real estate developers voice support for the state’s Condo 3.0 bill, even though it’s resulted in higher HOA and maintenance fees for unit owners. (Getty Images)
The higher condo fees are a result of the state’s “Condo 3.0” bill, passed by Florida Gov. Ron DeSantis in early 2024, less than three years after the Champlain Towers collapse in Surfside. The new bill dictates a new set of reforms, including how a building is maintained to how condo associations are governed. The oldest buildings and their residents are likely to see the most costly impending assessments.
“Any rational person has to be supportive of the legislation because it goes to the issue of safety. So while it may have a financial burden, we have an obligation – the state, the city, everybody has an obligation to keep people safe,” Eichner said. “So there’s no question that the law is something that, unfortunately, was a consequence of an event, but certainly it’s something everyone supports.”
According to recent data from Redfin, multiple Florida cities on the east and west coasts have year-over-year double-digit increases on condo fees. Tampa saw the sharpest rise at 16.7%; Fort Lauderdale had a 16.2% increase; the average median condo cost in Miami is $835 per month; and Key West has the highest median HOA fee at $1,063.
FOX Business’ Ashley Webster reports from Fort Lauderdale, Florida, where condominium and HOA fees are rising and thus turning new residents away.
In some high-demand markets like Miami, unit owners at the 16-year-old 1060 Brickell Avenue building are required to split $21 million in special assessments after the board of directors reportedly identified areas of damage.
Many condo buildings that are 40 to 60 years old are more likely to be demolished and rebuilt as newer, luxury real estate projects, according to the developers.
“I think we’re going to see more and more of this transaction of prime real estate, older product getting replaced with the new product,” Toledano noted.
“The shift that we see in the market is the appetite of older product, older units, many other owners willing to work with the developers, and they understand that if you live in a three-story building that was built in the 1960s, this building will probably have some serious assessments, a lot of improvements, and sometimes it doesn’t make any sense to go and replace the roof, the electrical, the mechanical, something that will cost millions of dollars,” the BH Group lead also said. “[You’re] better off [to] sell the unit.”
Florida’s dubbed “Condo 3.0” bill requires yearly maintenance and reserve evaluations for buildings that are three stories or higher. | iStock
“Some of these buildings that are 50, 60 years old that really can’t be fixed anymore. Those buildings do need to come down,” Gutman explained. “If somebody has an apartment there that was worth $300,000 in the open market, and we come in at $750 [to] $800,000, I believe those people are in a much better position than they were, to be quite honest with you. But people will have to find possibly another area to live in, something that’s more affordable, something that’s newer, something that’s safer.”
While state lawmakers argue the Condo 3.0 law will improve the longevity and quality of high-rise buildings, there are fears that luxury mixed-use developers strip residents of deciding powers, add costly fees and price them out of their long-term homes – especially for retired or fixed-income owners.
Gov. DeSantis’ office did not respond to Fox News Digital’s request for comment.
Eichner posed an example: “You have a building that is 62 years old, has $12 million in deferred maintenance, has a population of 20 or 25% of the building that’s retired, and that 20 or 25% either doesn’t want to move, doesn’t have the resources to move, need help to move.”
Madison Ventures+ managing partner Mitch Roschelle reacts to latest developments with the alleged gang-controlled apartment complex in Colorado and Florida’s condo market in correction mode.
“So what you have is building after building facing assessments that they really can’t afford. They do not have the will, i.e. the 90% that can require a termination, and so they sit now in this ‘Never-Never Land’ in which they attempt to have some partial assessment, deferred assessment. Where is this going to go? I don’t know,” Eichner continued. “But for sure, there are hundreds of buildings that are in this situation as we wind our way out of year one of the post-assessment requirement. I suspect that this is going to be a real issue in 2025, 2026.”
In February, new leaders in the Florida legislature said their next sessions will include potential changes to condo laws, but will not involve talks around direct financial assistance for condo owners.
The three developers insist they’re here to help those concerned residents.
“I think that after all, developer or not, we’re all human being[s]. And if the stronger person can help the weaker person, or the smarter person can help the person with less knowledge or less experience, I think this is something that it’s good to see, and we should all help each other if we can,” Toledano said.
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Naftali Group chairman and CEO Miki Naftali discusses the insurance cost as Hurricane Helene makes its way to the Gulf Coast on ‘The Claman Countdown.’
“We don’t go in to try to take over buildings and don’t prefer a hostile environment. When we approach a building, we approach it and we move forward because everybody in the building wants to sell. And they don’t want the assessments, they don’t want the hiked-up maintenance fees,” Gutman chimed in. “That’s just our approach. We’re not fighters, we’re trying to help.”
“Part of the offer that we made was, to the extent that you are interested, we will help move you. To the extent that you’re not sure where you want to go, we will recommend some brokers to work with you,” Eichner said. “So it’s an attempt to have a more holistic, full-service approach rather than simply say: We’re offering you ‘x’ million dollars for your apartment, and that’s that, thank you, goodbye.”
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