Saudi prince invests $300M in Twitter

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Monday, December 19, 2011

Saudi billionaire Prince Alwaleed bin Talal and his investment company are investing $300 million in Twitter.

Alwaleed's joint investment with his Kingdom Holding Co. follows months of negotiations and will give them a "strategic stake" in Twitter, according to the Riyadh, Saudi Arabia-based investment firm. It wasn't clear how much of Twitter the prince will control.
Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes' list of the world's richest people. He has a history of investing in media and technology companies, and said the deal represents an interest "in promising, high-growth businesses with a global impact."

Read more at OregonLive.com.

{biztweet}twitter prince{/biztweet}

 

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