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The Guardian - UK

Technology

Mark Sweney

Abu Dhabi royal family to take stake in TikTok US under Trump deal

TikTok TikTok US Abu Dhabi United States Donald Trump Tahnoon Bin Zayed Al Nahyan MGX JD Vance Larry Ellison ByteDance

Larry Ellison’s Oracle, the private equity group Silver Lake and Abu Dhabi’s MGX will control roughly 45% of TikTok US. Photograph: Romain Doucelin/Sopa Images/Rex/Shutterstock

The Abu Dhabi royal family is to take a stake in TikTok’s US business after Donald Trump signed an executive order brokering a deal valuing the social media company at $14bn (£10.5bn).

MGX, a fund chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take a 15% stake and gain a board seat when TikTok US is spun out.

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