Abu Dhabi royal family to take stake in TikTok US under Trump deal
by Mark Sweney from on (#70AQY)
MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take 15% stake, with social media firm valued at $14bn
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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