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Saudi prince's investment firm would be keen on TikTok if Musk or others buy it, CEO says
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Saudi prince's investment firm would be keen on TikTok if Musk or others buy it, CEO says
Jan 22, 2025 4:22 AM

By Nayera Abdallah

DUBAI, Jan 22 (Reuters) - Saudi Arabian Prince Alwaleed

Bin Talal's investment company Kingdom Holding (KHC)

would be interested in investing in ByteDance's TikTok if Elon

Musk or others offered to buy it, CEO Talal Ibrahim al-Maiman

told Al Arabiya TV on Wednesday.

The search to find a buyer for the Chinese-owned popular

short-video app continues in the U.S. after it went dark and was

revived later by an executive order signed by President Donald

Trump delaying the enforcement of a ban on it by 75 days.

Trump said on Tuesday he was open to billionaire Musk buying

the app if the Tesla CEO wanted to do so.

KHC already holds stakes in Musk's social media platform X

and his artificial intelligence startup xAI.

Saudi Arabia's sovereign wealth fund PIF holds a minority

stake in KHC, with 5% of the company floated on the Saudi stock

exchange.

Al-Maiman expected low-cost Saudi airline flynas, in which

KHC has substantial shares, to be in the final stage of getting

approval from Saudi regulator CMA to be listed, he added on the

sidelines of the World Economic Forum in Davos, Switzerland.

While KHC, founded by Saudi Arabia's self-styled Warren

Buffett, Prince Alwaleed, holds a large diverse portfolio that

includes petrochemicals, healthcare, real estate and e-commerce,

the company wasn't rushing into the cryptocurrency market.

"We support Mr. Buffet's theory what you don't buy with,

don't invest in, so as we cannot buy any goods with

cryptocurrencies therefore we are currently not looking in

investing in them," al-Maiman said.

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