Saudi's Prince Alwaleed invests $300m in Twitter

Prince Alwaleed was named the world's richest Arab with a personal fortune of $21.3bn.

Tags: Kingdom Holding CompanyMergers and acquisitionsSaudi ArabiaTwitter Incorporation
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Saudi's Prince Alwaleed invests $300m in Twitter Saudi Arabia's Prince Alwaleed bin Talal has bought a $300m stake in Twitter.
By  Ed Attwood Published  December 19, 2011

Prince Alwaleed bin Talal, the chairman of Saudi Arabia's Kingdom Holding Company (KHC) has invested $300m to buy a ‘strategic stake' in popular social networking site Twitter.

In an emailed statement on Monday KHC said that the Twitter deal had been the result of "several months of negotiations and comprehensive due diligence."

"Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," Prince Alwaleed said.

Prince Alwaleed, whose investments include stakes in General Motors Co, News Corp and Apple Inc, was named the world's richest Arab by Arabian Business on Sunday with a confirmed personal fortune of $21.3bn.

Kingdom Holding, which is 95% owned by the prince, is building the tallest tower in the world in Jeddah at a cost of SR4.6bn ($1.23bn).

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