New Delhi, Sept. 28 -- The ultra-wealthy royal family of Abu Dhabi is poised to acquire a stake in TikTok's US operations through a deal facilitated by President Donald Trump. Reports indicate that MGX, a fund led by Sheikh Tahnoon Bin Zayed Al Nahyan, will obtain a 15% ownership share along with a seat on the company's board.

According to The Guardian, the Abu Dhabi royal family will hold a stake in TikTok US, which has been valued at $14 billion ( Rs.12,4197 crore).

On Thursday, September 25, Trump signed an executive order approving the deal, stating that TikTok "will be majority-owned and controlled by United States persons and will no longer be controlled by any foreign adversary". He allowed a 120-day period to finalise the terms....