Saudi prince’s firm to invest in TikTok if Musk buys it

• Published On: 22 January 2025 at 17:57

Kingdom Holding Company, a Saudi Arabian investment firm, has expressed interest in investing in ByteDance's TikTok if billionaire Elon Musk or another buyer acquires the app, CEO Talal Ibrahim al-Maiman said in an interview with Al Arabiya TV on Wednesday.

The announcement comes as TikTok faces an uncertain future in the United States, following President Donald Trump's executive order that delayed the enforcement of a ban on the Chinese-owned short-video app for 75 days. Trump recently stated that he would be open to Musk purchasing TikTok, fuelling speculation about the app's next steps.

KHC, owned by Saudi Prince Alwaleed Bin Talal, already has stakes in Musk's ventures, such as the social media platform X and his artificial intelligence startup xAI. The company also has a diverse portfolio that includes petrochemicals, healthcare, real estate, and ecommerce.

Meanwhile, TikTok is still unavailable on the Apple and Google app stores in the United States, despite being temporarily revived by Trump's executive order.