Interest in TikTok, distressed NY bank has echoes of Mnuchin’s pre-Trump investment playbook

Published March 16, 2024 6:56 AM

By STAN CHOE and CHRISTOPHER RUGABER
AP Business Writers

NEW YORK (AP) — Steven Mnuchin is a former U.S. Treasury secretary who said this week that he is interested in buying TikTok, just days after his investment firm led a $1 billion deal to inject life into a beaten-down bank. It all sounds like a wacky Hollywood script, but it actually fits with Mnuchin’s career. The man who was one of former President Donald Trump’s cabinet officials has a long history in both the fields of finance and entertainment, including a long stint at Goldman Sachs and a role as a movie producer. He’s also generated plenty of controversy along the way.

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