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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. This was shared by CEO Talal Ibrahim al-Maiman with Al Arabiya.
Prince Alwaleed bin Talal bin Abdulaziz Al Saud, known as Alwaleed bin Talal, is a member of the Saudi royal family and the nephew of King Abdullah of Saudi Arabia. He is a prominent industrialist, and investor, and is the 19th richest person in the world according to Forbes magazine as of March 2010. He is a Saudi Arabian billionaire businessman, investor, philanthropist, and a House of Saud royal. He owns chunks of private and public companies in the US, Europe and the Middle East.
Search on for the Buyer
The search to find a buyer for the Chinese-owned popular short-video app continues in the US 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 has said that 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 per cent 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.
Flynas, a low-budget Saudi airline, is a leading low-cost carrier offering cheap flights to a growing number of destinations in the Middle East, Europe, and Asia. ‘Flynas’ is a private airline in Saudi and its main headquarters is located in the city of Riyadh.
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 shares.
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