Saudi Alwaleed's KHC Eyes TikTok if Musk or Others Buy It, CEO Says
Generated by AI AgentWesley Park
Wednesday, Jan 22, 2025 5:46 am ET1min read
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In a surprising turn of events, Saudi Arabia's Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, has expressed interest in investing in TikTok, should Elon Musk or other prominent figures acquire the popular social media platform. This revelation comes as TikTok faces uncertainty in the U.S. market, with former President Donald Trump hinting at a potential sale to Musk or Oracle's Larry Ellison.
TikTok's CEO, Shou Zi Chew, recently stated that the platform aims to explore promising opportunities in the Saudi market, indicating a potential partnership with KHC. This move aligns with KHC's strategy to diversify its investment portfolio and support local companies, as well as Saudi Arabia's Vision 2030 initiative to promote tourism and digital transformation.
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In a surprising turn of events, Saudi Arabia's Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, has expressed interest in investing in TikTok, should Elon Musk or other prominent figures acquire the popular social media platform. This revelation comes as TikTok faces uncertainty in the U.S. market, with former President Donald Trump hinting at a potential sale to Musk or Oracle's Larry Ellison.
TikTok's CEO, Shou Zi Chew, recently stated that the platform aims to explore promising opportunities in the Saudi market, indicating a potential partnership with KHC. This move aligns with KHC's strategy to diversify its investment portfolio and support local companies, as well as Saudi Arabia's Vision 2030 initiative to promote tourism and digital transformation.
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