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Prince Alwaleed increases Twitter stake to five percent

Prince Alwaleed bin Talal increases stake through Kingdom Holding

Prince Alwaleed is now believed to hold about 5% of Twitter shares.
Prince Alwaleed is now believed to hold about 5% of Twitter shares.

Prince Alwaleed bin Talal has upped his stake in Twitter, via an increased investment in the social messaging service by Kingdom Holding, the prince's investment firm.

The new investment means that the Prince and Kingdom Holding now own 5% of Twitter.

Kingdom Holding has paid $50 million to double its stake in the microblogging site to 0.72%, while the Prince holds 30,100,078 Twitter shares, or 4.45% of the company, according to Reuters.

The prince and Kingdom Holding first invested $300 million in Twitter in 2011. Prince Alwaleed owns 95 percent of Kingdom Holding.

Twitter listed on the New York Stock Exchange in November 2013. Its market capitalisation is $18.7 billion, according to Reuters data.