Prince Alwaleed Makes $300 Million Investment in Twitter

RIYADH: News Corp. investor Prince Alwaleed bin Talal, who owns 95 percent of Kingdom Holding, has purchased a stake in Twitter for $300 million.

The investment by the Saudi Prince and the Kingdom Holding Company represents around 3 percent of Twitter. Prince Alwaleed has investments in entertainment and media entities throughout the Arab world and beyond, including in the Saudi Research and Marketing Group (SRMG), which Kingdom Holding holds a 29.9-percent stake in. Kingdom Holding also owns around 7 percent of News Corp.’s Class B Common Stock.

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

Eng. Ahmed Halawani, Kingdom Holding‘s executive director of private equity and international investments, commented: "We believe that social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetize this positive trend."