DUBAI: Kingdom Holding Company (KHC), led by Saudi Arabian Prince Alwaleed Bin Talal, expressed interest in investing in TikTok if a purchase offer arises from Elon Musk or other potential buyers, according to CEO Talal Ibrahim al-Maiman during an interview with Al Arabiya TV on Wednesday.
The search for a buyer for the Chinese-owned video app continues in the U.S. following a brief halt and subsequent revival due to an executive order from former President Donald Trump, which postponed a ban on the platform by 75 days.
Trump indicated on Tuesday that he would welcome Musk's acquisition of TikTok, should the Tesla CEO pursue it.
KHC currently has investments in Musk's social media platform X and his AI venture xAI.
Additionally, al-Maiman noted that flynas, a low-cost Saudi airline in which KHC holds significant shares, is nearing approval from the Saudi regulator CMA for a public listing.
Although KHC boasts a diverse portfolio spanning petrochemicals, healthcare, real estate, and e-commerce, it remains cautious about entering the cryptocurrency market. Al-Maiman referenced Warren Buffett's investment philosophy, stating, 'We cannot buy any goods with cryptocurrencies; therefore, we are currently not looking to invest in them.'