Big News Corp Investor Prince Alwaleed Takes $300M Stake In Twitter

Prince Alwaleed Bin Talal, the Saudi royal whose Kingdom Holding Company shares business interests with News Corp, has made a $300 million investment in Twitter. The prince, one of the world’s wealthiest men, made the investment jointly with Kingdom Holding. In a company statement, Prince Alwaleed said, “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.” Kingdom Holding owns about 7% of News Corp while News Corp last year reached a deal for a 9.09% stake in Kingdom and Alwaleed’s Rotana Group, a media company that includes film, TV, radio, publishing and other media interests in the Middle East. Alwaleed also recently announced plans to launch his privately owned Alarab news channel.

This article was printed from https://deadline.com/2011/12/big-news-corp-investor-prince-alwaleed-takes-300m-stake-in-twitter-206612/