Saudi Prince Alwaleed bin Talal of Kingdom Holdings just announced that they’ve invested $300 million in Twitter, it is said that this was the result of several months of negotiations and comprehensive due diligence and represent a strategic stake in Twitter. Prince Alwaleed bin Talal is considered by Arabian Business magazine as one if not the wealthiest Arab in the region.
Prince Alwaleed commented: “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.”
It is not mentioned on how large or small the stake was but this will surely have a great impact on the availability and usage of twitter in the Arab region.
Twitter is just one of the many international company that listed in Saudi Prince Alwaleed bin Talal and his investment company Alwaleed’s Kingdom Holding Co. portfolio. He also invested in other media and tech companies like Apple, HP, News Corp., Kodak, Timewarner, Motorola and Walt Disney.
You can read the full pr here.
Last modified: December 19, 2011