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Saudi Prince Invests $300 Million In Twitter [Headlines]

Luxury

Prince Alwaleed bin Talal has been expanding his social media empire and wants a stake in the platform that was used to help mobilize people during the 'Arab Spring.'

Dory Carr-Harris, PSFK
  • 19 december 2011

Prince Alwaleed bin Talal has made a $300 million investment in Twitter Inc., expanding his media empire into social-media sites and giving the Saudi billionaire a stake in an online forum that was widely used by activists in this year’s Arab uprisings.

Prince Alwaleed stressed both the investment potential and growing clout of the short-messaging social network in announcing the purchase, which he said was part of a drive “to invest in promising, high-growth businesses with a global impact,” according to an emailed statement from Kingdom Holding Co., which he heads. Wall Street Journal

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