This study focuses on the dynamics of magnetized strange quark matter collapsing near a star in rainbow gravity. The study computes various dynamical variables, including mass density, pressure, and magnetic field strength, to ensure the physical existence of the fluid, and graphically verifies the energy conditions. These variables combine to form a black hole, and the study estimates the time and distance of apparent horizon formation, which are both reduced by the magnetic field. Additionally, the study observes that the energy of probing particles impacts mass density, pressure, magnetic field intensity, distance, and time of horizon creation, which helps to resolve the information paradox. It is also noticed that the magnetic field accelerates the collapse.