Abu Dhabi Royal Family Invests in TikTok US
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The Abu Dhabi royal family, through MGX, will acquire a 15% stake in TikTok's US business for $14 billion. This deal, brokered by Donald Trump's executive order, aims to ensure US control and data privacy. Oracle and Silver Lake are also key investors, with American entities expected to hold over 65% of the company. ByteDance will retain a 19.9% stake. The valuation comes amidst concerns over national security and data privacy.
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