Kingdom Holding Expresses Interest In Tiktok Investment Amid Potential Acquisition
Date
1/23/2025 12:47:28 AM
(MENAFN- The Arabian Post)
Kingdom Holding Company (KHC), the investment firm led by Saudi Arabian Prince Alwaleed Bin Talal, has indicated a willingness to invest in TikTok should the platform be acquired by Elon Musk or another party. This development emerges as TikTok's parent company, ByteDance, faces mounting pressure to divest its U.S. operations to avert a potential ban.
KHC's CEO, Talal Ibrahim al-Maiman, stated that the firm would consider investing in TikTok if a suitable buyer, such as Musk, were to take over the platform. This interest aligns with KHC's existing investments in Musk's ventures, including stakes in the social media platform X and the artificial intelligence startup xAI.
The backdrop to this potential investment is the ongoing scrutiny of TikTok by U.S. authorities, who have raised national security concerns regarding the app's data practices and its Chinese ownership. In response, former President Donald Trump issued an executive order delaying the enforcement of a ban on TikTok, providing a window for ByteDance to seek a buyer for its U.S. operations.
Elon Musk has been mentioned as a potential acquirer of TikTok. During a press briefing, President Trump expressed openness to the idea of Musk purchasing the app, highlighting the significant value TikTok holds with the appropriate permits. Trump suggested a purchase plan where the buyer could allocate half of the app's value to the United States in exchange for the necessary permissions.
In addition to Musk, other tech figures have been considered as potential buyers. President Trump also mentioned Larry Ellison, co-founder of Oracle, as a possible acquirer of TikTok. This consideration comes amid political and legal tensions, as ByteDance faces a divest-or-ban mandate from the U.S. Supreme Court.
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KHC's investment portfolio is diverse, encompassing significant shares in various sectors. Notably, the firm holds a substantial stake in the low-cost airline flynas, which is nearing approval from Saudi regulators for a public listing. Despite its broad investment strategy, KHC has no plans to invest in cryptocurrencies, adhering to Warren Buffett's philosophy of investing in assets with tangible utility.
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