Saudi Alwaleed's firm interested in TikTok if Musk buy it: CEO

Saudi Alwaleeds firm interested in TikTok if Musk or others buy it — Prince Alwaleed bin Talal, a Saudi billionaire, January 2025. Photo: Screengrab/video/X

DAVOS,— Saudi Arabia’s Kingdom Holding Company (KHC), chaired by billionaire Prince Alwaleed Bin Talal, has expressed interest in investing in TikTok if the opportunity arises, CEO Talal Ibrahim al-Maiman revealed in an interview with Al Arabiya TV on Wednesday.

According to al-Maiman, KHC would consider joining a bid for the popular Chinese-owned short-video platform, particularly if figures like Elon Musk or other prominent investors pursued a purchase.

The remarks come amid ongoing uncertainty about TikTok’s future in the United States. Efforts to find a buyer for the app have intensified after a rollercoaster of legal and political challenges. The app faced a potential U.S. ban but was temporarily spared when President Donald Trump signed an executive order delaying enforcement by 75 days.

Trump also commented on the situation earlier, saying he would welcome Musk’s involvement in acquiring TikTok if the Tesla and SpaceX CEO showed interest.

KHC is no stranger to Musk’s ventures. The Saudi investment company already holds stakes in Musk’s social media platform, X (formerly known as Twitter), as well as his artificial intelligence startup, xAI. KHC also boasts a diverse portfolio spanning industries such as healthcare, petrochemicals, real estate, and e-commerce.

KHC is partially owned by Saudi Arabia’s Public Investment Fund (PIF), which holds a minority stake in the company. Additionally, 5% of KHC is publicly traded on the Saudi stock exchange.

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, al-Maiman provided updates on other KHC-backed ventures. Flynas, a low-cost Saudi airline in which KHC owns significant shares, is nearing final approval from Saudi Arabia’s Capital Market Authority (CMA) to go public, he said.

Despite its wide-ranging investments, KHC is steering clear of the cryptocurrency market for now. “We follow Warren Buffett’s philosophy: if you can’t buy goods with it, don’t invest in it,” al-Maiman stated. “Since cryptocurrencies are not currently viable as a means of transaction, we have no plans to enter that market.”

KHC remains one of the most influential investment firms in the Middle East, with Prince Alwaleed often referred to as Saudi Arabia’s “Warren Buffett” for his strategic and varied investments.

(With files from Reuters)