Saudi Arabian Prince Alwaleed bin Talal’s holding company, Kingdom Holding, is interested in investing in TikTok if Elon Musk or another major player makes an offer to buy the popular short video app. This development comes as the U.S. decides what to do with TikTok, which was banned by the Biden administration before Trump delayed the ban.
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Kingdom Holdings already has investments in Musk’s other ventures, which includes a $1.89 billion stake in his social media platform X. The company also participated in xAI’s Series C funding round by contributing $400 million to the artificial intelligence startup. Kingdom Holding’s CEO, Talal al-Maiman, believes that Musk has the ability to manage his time effectively, despite his various commitments.
The potential acquisition of TikTok by Musk or another buyer could have significant implications for the app’s future. With over 1.5 billion users worldwide, including 170 million in the U.S., there is no doubt that TikTok is a very influential platform. As a result, the U.S. government has considered various options to address its national security concerns, such as a 50/50 partnership.
Is Tesla Stock a Buy, Hold, or Sell?
Although retail investors cannot invest in TikTok or most of Musk’s ventures, they can invest in his most popular company, EV maker Tesla. When turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. After a 100% rally in its share price over the past year, the average Tesla price target of $329.63 per share implies 21.25% downside risk.
