Wyoming financial planner ‘pausing’ TikTok deal he says would benefit South Dakota

Reid Rasner says China’s maneuvering and a Wyoming state senator’s social media comment are working against him

From left, Dakota State University President José-Marie Griffiths, Wyoming financial planner Reid Rasner and South Dakota Gov. Larry Rhoden participate in an event on May 23, 2025, in Madison. John Hult/South Dakota Searchlight

Reid Rasner says he’s paused his efforts to purchase TikTok for $47.45 billion and possibly place some of its operations in South Dakota.

South Dakota Gov. Larry Rhoden had thrown his support behind the bid from Rasner, a financial planner and failed 2024 U.S. Senate candidate.

Rasner Media’s website posted a press release Thursday saying the bid’s on pause “unless China makes substantial changes and demonstrates a genuine commitment to a transparent and lawful divestiture.”

The bid to buy TikTok “remains fully funded,” it said.

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