By Martin Shwenk Leade
Copyright indiatimes
NYT News ServicePresident Donald Trump signs an executive order regarding a deal for TikTok in the Oval Office of the White House in Washington, on Thursday, Sept. 25, 2025.
As the US prepares to clear the path for TikTok’s reentry, a CNBC report has noted that one of the main investors in TikTok’s US operations, Abu Dhabi-based MGX, has a long history of personal and business dealings with President Donald Trump.”David Faber’s report about who the buyers are going to be of the new TikTok US. It is a little known entity called MGX. That’s an Abu Dhabi based firm that has a long history with President Trump,” said CNBC’s Eamon Javers. According to the report, the firm, which previously invested in Trump’s cryptocurrency company, is now part of the newly approved $14 billion joint venture to manage TikTok in the United States.MGX previously partnered with President Trump’s own cryptocurrency venture earlier this year, paying around $2 billion to acquire USD1 stablecoins from his company.”They are in the TikTok deal but they were also in another deal with President Trump’s own cryptocurrency company. MGX was the company that paid about $2 billion to buy the so-called USD1 stablecoins from President Trump’s company earlier this year,” the CNBC reporter added.Live Events View this post on Instagram According to Javers, this transaction effectively created the stablecoin and generated investment returns for Trump and his family, allowing them to personally profit from the deal while MGX simultaneously conducted business with the now two-time US president. “That $2 billion creates the stablecoin, in effect, and it also allowed President Trump’s company to profit from the $2 billion which would be invested, and then produce investment returns. So, at the same time this company, is doing business personally with President Trump’s company and his family and generating returns for them personally. They are also now participating in this TikTok deal,” Javers further said.Add as a Reliable and Trusted News Source Add Now!
President Trump on Thursday signed an executive order greenlighting a proposed joint venture to oversee TikTok’s US operations, a deal valued at around $14 billion, according to Vice President JD Vance.(You can now subscribe to our Economic Times WhatsApp channel)
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onPresident Donald Trumpjoint ventureCNBCTikTokMGXTikTok US operationsPresident Trump(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
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