Dubai royal-backed investment fund MGX is set to acquire a 15% stake in TikTok's U.S. operations, according to a report by The Washington Post. This acquisition, combined with Oracle's holdings, will bring their total ownership to approximately 45%. Overall, U.S. investors are expected to hold over 65% of TikTok's U.S. business, while ByteDance will retain a 19.9% stake. Previously, MGX invested $2 billion in the Trump family's crypto project, World Liberty Financial, purchasing the stablecoin USD1.
Dubai's MGX to Acquire 15% Stake in TikTok's U.S. Operations
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