Saudi billionaire prince doubles ownership of Twitter stock
RIYADH — Saudi billionaire Prince Alwaleed bin Talal and his investment company have doubled their ownership of Twitter’s publicly traded shares in the past six weeks.
Reuters file photo
RIYADH — Saudi billionaire Prince Alwaleed bin Talal and his investment company have doubled their ownership of Twitter’s publicly traded shares in the past six weeks.
A joint statement released today (Oct 7) by the prince and the Riyadh-based Kingdom Holding Company says their combined shares represent more than 5 per cent of Twitter’s common stock, with a market value of US$1 billion (S$1.41 billion).
The prince and KHC, which he chairs, originally invested US$300 million in Twitter in 2011 before the micro-blogging site went public two years later.
With the most recent investments, Prince Alwaleed holds roughly 30,100,000 shares in Twitter and KHC has nearly 4,850,000 shares. AP
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