Saudi investor Prince Alwaleed bin Talal invests $300 million stake in Twitter

By on Dec 19, 2011 in Asia, Business, Internet, World Comments

Saudi Prince Alwaleed bin Talal and Kingdom Holding Company (KHC) recently invested $300 million stake in Twitter, after several months of negotiations.



Saudi Prince Alwaleed Bin Talal
Image Credit: Kingdom.com.sa

According to a press release by KHC on its official website on Monday, December 19, 2011, His Royal Highness (HRH) Saudi Prince Alwaleed bin Talal has finalized his so-called ‘strategic’ stake on Twitter.

Prince Alwaleed, a billionaire investor and a nephew of Saudi King Abdullah, also signed a $1.2-billion (SR4.6 billion) contract last August to build the Kingdom Tower, noted to be the world’s tallest tower.

“Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.” Prince Alwaleed was quoted at Kingdom.com.sa; who also has investments in Apple Inc., Citigroup Inc., among others.

“We believe that social media will fundamentally change the media industry landscape in the coming years.Twitter will capture and monetize this positive trend.” KHC‘s Private Equity and International Investments Executive Director Engr. Ahmed Halawani reportedly said.

Apparently, Prince Alwaleed‘s investment on Twitter was reported to be representing over 3% stake in the 140-character microblogging website, which was at late summer valued at $8 billion and has now over 100 million users.



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