From Jets And Palaces To Yachts: How Wealthy Is Abu Dhabi Royal Family Which Is Set To Acquire Stake In Tiktok US?

(MENAFN- Live Mint) The ultra-wealthy royal family of Abu Dhabi is poised to acquire a stake in TikTok's US operations through a deal facilitated by President Donald Trump. Reports indicate that MGX, a fund led by Sheikh Tahnoon Bin Zayed Al Nahyan, will obtain a 15% ownership share along with a seat on the company's board.

According to The Guardian, the Abu Dhabi royal family will hold a stake in TikTok US, which has been valued at $14 billion ( ₹12,4197 crore).

On Thursday, September 25, Trump signed an executive order approving the deal, stating that TikTok“will be majority-owned and controlled by United States persons and will no longer be controlled by any foreign adversary”. He allowed a 120-day period to finalise the terms.

Trump referred to the buyers as“very sophisticated Americans and people who love their country”. He said,“We have American investors taking it over it, running it [who are] highly sophisticated, including Larry Ellison [the Oracle founder].”

Oracle, founded by Larry Ellison, along with the private equity firm Silver Lake and Abu Dhabi's MGX, will jointly own around 45 per cent of TikTok US. ByteDance , the app's Chinese parent company, is expected to maintain a 19.9% stake, while the remaining ownership will be divided among existing ByteDance investors and new stakeholders.

The TikTok agreement follows over a year after the US Congress voted to ban the app unless it was sold, citing concerns over privacy and national security. However, the UAE's emergence as a major shareholder could spark controversy, especially considering the investment comes from a fund linked to Sheikh Tahnoon, the UAE's national security adviser, who has reportedly been aligning more closely with the US than with China, according to The Telegraph.

A look at Abu Dhabi's royal family's wealth

The royal family of Abu Dhabi is among the wealthiest in the world, with an estimated net worth of $323.9 billion. Led by UAE President Sheikh Mohamed bin Zayed Al Nahyan (MBZ), the ruling House of Nahyan controls about 6% of the globe's oil reserves.

Their investments span across various sectors, including ownership of English football powerhouse Manchester City and stakes in global enterprises such as Rihanna's Savage X Fenty and Elon Musk's SpaceX.

The family's opulence is also reflected in its real estate holdings. Their presidential residence, Qaṣr Al-Waṭan, is worth around $475 million ( ₹4,214 crore). Spanning 380,000 square meters, three times the size of the Pentagon, it features a 37-meter-wide dome and a chandelier adorned with 350,000 crystals, according to the New York Post.

Internationally, the family owns properties like the Château de Baillon near Paris. In London , the late Sheikh Khalifa bin Zayed Al Nahyan gained the nickname“landlord of London” due to his extensive property holdings across the city's most exclusive neighbourhoods.

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The Nahyan family's car collection is world-famous and housed in museums across the UAE and Morocco. Sheikh Hamad bin Hamdan al Nahyan alone is reported to own 700 vehicles, per Yahoo Finance. Sheikh Mansour's garage includes five Bugatti Veyrons, a Ferrari 599XX, McLaren MC12, Mercedes-Benz CLK GTR, and Lamborghini Reventon. He also holds shares in Ferrari and Daimler AG.

The royal family's presidential aircraft fleet consists of eight planes, including an Airbus A320-200 and three Boeing 787-9s. Sheikh Mohamed bin Zayed himself owns a $478 million Boeing 747 and a $176 million Boeing 787, both outfitted with luxurious features such as private cabins, entertainment areas, and spas, as reported by Yahoo Finance.

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The royal family boasts ownership of Azzam, the world's largest superyacht at 590 feet long. This impressive vessel accommodates over 100 guests and features luxurious amenities such as a golf room, pearl inlays, and a specially engineered chandelier designed to stay silent even in motion, according to the New York Post. They also possess other megayachts like Blue and Topaz (renamed A+), both ranked among the ten largest yachts globally.

Their commitment to cultural influence is evident in projects like the Louvre Abu Dhabi, the only Louvre museum outside of France. Since its opening in 2017, it has showcased a remarkable collection, including a 3000 BC Bactrian princess sculpture, Paul Gauguin's Breton Boys Wrestling, and Leonardo da Vinci's La Belle Ferronnière.

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