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

MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take 15% stake, with social media firm valued at $14bnTrump signs executive order to transfer TikTok to US ownersThe 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. Continue reading…Technology | The GuardianRead More