Saudi Arabia (Saudi) King Abdullah’s nephew, Prince Alwaleed (Alwaleed bin Talal) Prince on Monday (19) said that he and its “Kingdom Holding” investment company, will invest $ 300 million to buy Twitter, part of the stock.
According to CNN news network reported financial pages, personal net worth of about $ 19.6 billion multi-Jinwangzi Alwaleed said, “Kingdom Holding” (Kingdom Holding Company) and Twitter after several months of consultations, decided to buy “on behalf of policy of equity “(represent a strategic stake) way to invest in micro-blog service company whose main business network.
“Kingdom Holdings’ private equity and international investment Halawani, Executive Director (Ahmed Halawani), at a news conference, said:” We believe that social networking media will be in the next few years, a fundamental change in the media industryfuture, Twitter will make money to lead the industry trend toward good. ”
Twitter, Face Book on the web sites of these communities rise, signaling not only changed people’s habits, but also in Tunisia, who started last year, jasmine revolution, shoulder to break through these authoritarian countries, long-term blockade of the people of the great information and pass any comments ; social networking sites become the fight for democracy in the Arab world to spread the spring, and the successful overthrow the dictatorship of the important backstage and push hands.
Prince Alwaleed’s investment company philosophy, seeking to invest objects with “long term” relationship and the portfolio approach. Prince Alwaleed’s investment holding company in his website, the company’s introduction, said: “to work closely with the management of these companies co-operation; and participation in the company’s business strategy decisions.”
Twitter was announced in August this year to complete the estimated market value of about $ 8.4 billion financing. Many market analysts said that investment, Prince Alwaleed invested Twitter, will benefit from his investment company.
Prince Alwaleed is currently in the Forbes global rich list at No. 26. He is this year’s “Arabian Business” magazine out of the “Global Arab Rich List”, the reelection of the list. Prince Alwaleed’s investments include: General Motors, Apple Computer, he was Citigroup’s largest individual shareholder.
Prince Alwaleed holds a “Kingdom Holding Company” 95% of the shares, the company currently is spending $ 1.23 billion, in Jeddah to build the world’s tallest building.
In the “Kingdom Holding Company” announced partnership with Twitter, White came to light in the news business, “Kingdom Holding” company’s stock price, then soared 8.3%.