Dubai Royal-Backed Fund MGX Buys 15% of TikTok U.S. Business in Major Stake Deal: Report

Core Insights - MGX, a fund backed by Dubai's ruling family, will acquire a 15% stake in TikTok's U.S. business as part of a restructuring to enhance American control over the app [1] - The investment led by Sheikh Tahnoon bin Zayed Al Nahyan will partner MGX with Oracle, resulting in a combined ownership of approximately 45% of TikTok's U.S. entity [2] - American companies are projected to own over 65% of TikTok's U.S. operations, with ByteDance retaining a 19.9% stake [3] Investment Details - MGX's involvement in the TikTok deal follows its earlier investment of $2 billion in USD1, a stablecoin associated with Donald Trump's World Liberty Financial, indicating its strategy to engage in significant financial transactions [4] - The TikTok investment positions MGX prominently within the U.S. social media landscape, where TikTok's cultural and advertising influence is on the rise [5]