Key Points
- Saudi’s KHC is interested in investing in TikTok if Elon Musk or others acquire it. Trump’s executive order delayed the company’s U.S. ban by 75 days.
- Trump expressed openness to Musk purchasing TikTok.
- KHC holds stakes in Musk’s ventures, including X and xAI.
- KHC remains cautious about investing in cryptocurrencies due to their limited real-world usability.
Kingdom Holding Company (KHC), the investment firm owned by Saudi Prince Alwaleed Bin Talal, has expressed interest in investing in TikTok if Elon Musk or other potential buyers acquire the short-video platform, CEO Talal Ibrahim al-Maiman revealed in an interview with Al Arabiya TV on Wednesday.
The search for a buyer for the Chinese-owned social media giant continues in the United States after TikTok was temporarily banned and later reinstated following an executive order from President Donald Trump. The order granted a 75-day extension to delay the ban’s enforcement, allowing potential buyers more time to negotiate a deal.
On Tuesday, Trump stated he was open to Musk purchasing TikTok if the Tesla CEO was interested. KHC already holds stakes in Musk’s social media platform, X (formerly Twitter), and his artificial intelligence venture, xAI.
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), holds a minority stake in KHC, with 5% of the company’s shares listed on the Saudi stock exchange.
KHC, known for its diversified investment portfolio spanning petrochemicals, healthcare, real estate, and e-commerce, is cautious about entering the cryptocurrency market. Al-Maiman reiterated the company’s stance, citing investment principles inspired by Warren Buffett: “If you can’t buy goods with cryptocurrencies, we see no reason to invest in them.”
