The Kingdom Holding Company (KHC), a Saudi investment company owned by Prince Alwaleed bin Talal, has expressed interest in investing in TikTok, Al-Arabiya News reported.
The CEO of KHC, Talal al-Maiman, said on Wednesday that the company is keen on TikTok if Elon Musk or others offered.
Speaking to Al-Arabiya Business, on the sidelines of the World Economic Forum (WEF) in Davos, al-Maiman said: “If Musk, or others, offered, we would have an interest in looking into this investment no doubt.”
In December 2024, KHC announced the acquisition of an additional $400mn stake in xAI Corporation, an artificial intelligence company founded by US billionaire Elon Musk, bringing its total investment value to $800mn.
The Saudi company also holds stakes in Musk’s social media platform X. This makes KHC the second largest investor in X and xAI.
TikTok, a popular video app owned by the China-based company ByteDance, went dark on January 19 in the US after the Supreme Court unanimously upheld a law that bans TikTok in the country unless its parent company sells the US version to an approved buyer. The ban law cited national security concerns and got bipartisan support.
However, the US President, Donald Trump, on Monday signed an executive order that delays the enforcement of the ban by 75 days. Trump also suggested the idea of a 50-50 partnership between the US and ByteDance, although he did not provide details on how that might work.
The US President on Tuesday expressed his openness to Musk buying the app if he wanted to do so.
