A new player has emerged in the American-led quest to takeover U.S TikTok operations. According to reports, Abu Dhabi ‘s Royal Family has entered the fray and yes that means the new owners of TikTok will all be Trump appointed or aligned billionaires or billionaire families.
Those taking over the app in America now include: The Murdochs, Fox Corp, Michael Dell (think Dell computers), The Ellisons (think Oracle and *many* others), and now a fund chaired by none other than the Royal Family of Abu Dhabi.
The Lowdown
If one might recall we mentioned that TikTok presumably is going to look allot different in the very near future at least in the United States. According to the Guardian, those potential changes and who will partially or wholly be responsible for them is becoming more clear. MGX chaired by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi ‘s Royal Family is set to take part in America ‘s takeover of U.S operations in the country. As Bazaar Daily previously reported, those involved in the U.S based group of investors would be leased TikTok’s famous algorithm instead of it being outright acquired by the Americans.
The Guardian notes that the fund by the Royals will take about a 14% stake with the social media company and all its current US investors and players valuing the company at $14B.