Billionaire Saudi Prince Buys a Piece of Twitter

Prince Alwaleed bin Talal, The world’s richest Arab, has invested $300 million in Twitter. Is Alwaleed’s uncle is King Abdullah bin Abdul-Aziz Al Saud. Forbes estimates Bin Tala’s wealth at close to $20billion, which puts 26th on their World’s Billionaires List.

Bin Talal is also the second largest shareholder of Rupert Murdoch’s News Corp. The $300 million that Bin Lalal invested in Twitter is believed to have bought him a 3.75% stake. So that would put the value of Twitter at around $8billion.

Saudi Prince Buys Piece of Twitter

Saudi Prince Buys Piece of Twitter

Photo source TimesLive

The Guardian reports

The prince has a wide range of media interests, including a 30% stake in a publishing business that runs influential Arabic language newspaper Asharq al-Awsat, and has plans to launch a new Arabic news channel that aims to challenge established players such as al-Jazeera.

The Wall Street Journal noted that

The investment by a Saudi prince in a social-media site that has served as an outlet for Middle East and North Africa dissidents throughout the Arab Spring alarmed some, who feared politically and socially conservative Saudi Arabia might thereby wield a chilling influence on free speech on Twitter.
But Prince Alwaleed’s relatively small stake in Twitter isn’t likely to have such influence. Twitter Chief Executive Dick Costolo has frequently said the company is “the free speech wing of the free speech party.”

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