Saudi KHC eyes TikTok investment opportunity

Saudi Arabia’s Kingdom Holding Company (KHC) is open to investing in TikTok if Elon Musk or others purchase the platform, CEO Talal Ibrahim al-Maiman revealed to Al Arabiya TV, according to Reuters.

KHC, which already holds stakes in Musk’s ventures, including X and xAI, expressed interest as the Chinese-owned video app continues its US search for a buyer. President Donald Trump previously delayed a TikTok ban with an executive order, and Musk was suggested as a potential buyer.

On the sidelines of the World Economic Forum in Davos, al-Maiman disclosed that KHC-backed Flynas is nearing regulatory approval for a listing on the Saudi stock exchange.

Despite its diverse portfolio spanning petrochemicals, healthcare, real estate, and e-commerce, KHC has no plans to enter the cryptocurrency market, aligning with Warren Buffett’s principle of avoiding investments lacking tangible utility.

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), holds a minority stake in KHC, with 5 per cent of the company publicly traded.

Attribution: Reuters

Subediting: M. S. Salama