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Saudi Prince’s Firm to invest in TikTok if Musk, others buy it

Kingdom Holding Company (KHC), led by Saudi Prince Alwaleed Bin Talal, has expressed interest in investing in ByteDance’s TikTok if a buyer like Elon Musk or others were to acquire the popular short-video app. Speaking to Al Arabiya TV on Wednesday, KHC CEO Talal Ibrahim al-Maiman revealed the company’s openness to exploring opportunities tied to TikTok amid ongoing efforts in the U.S. to secure a buyer for the Chinese-owned platform.

The future of TikTok in the U.S. remains uncertain. While the app faced potential bans, a previous executive order by former President Donald Trump delayed the enforcement by 75 days, allowing room for potential acquisition talks. Trump recently stated he would welcome a bid from Tesla CEO Elon Musk for TikTok.

KHC already maintains strong ties with Musk, holding stakes in his social media platform X (formerly Twitter) and his artificial intelligence startup xAI, further signaling alignment with Musk-led ventures.

KHC, partly owned by Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) and publicly traded on the Saudi stock exchange, boasts a diverse portfolio spanning industries such as petrochemicals, real estate, e-commerce, and healthcare.

Al-Maiman also disclosed updates about KHC’s aviation investments. He noted that flynas, a low-cost Saudi airline in which KHC holds significant shares, is nearing final approval from the Saudi Capital Market Authority (CMA) to be listed on the stock exchange.

Despite KHC’s aggressive diversification and investment strategy, the company remains cautious about entering the cryptocurrency market. Citing the philosophy of Warren Buffett, CEO al-Maiman said, “We support Mr. Buffett’s theory—what you don’t buy goods with, you don’t invest in. Since cryptocurrencies cannot be used to buy goods, we are not considering investments in them at the moment.”

 

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