Saudi Arabia’s richest prince and one of Middle East most prominent investor had added investment on his portfolio after securing a $300 Million stake at the microblogging site Twitter. The company which was co-founded by Jack Dorsey had now an estimated population of more than 100 million.
Prince Alwaleed Bin Talal is considered as one of the few investors which had a stake on large technology companies which is based in the United States. Aside from his investment on Twitter. The Saudi Prince is a prominent investor in companies such as GM, News Corp. and Apple Inc.
The Prince through his investment company Kingdom Holdings is considered as the biggest individual investor in Citigroup, the banking giants which had offices in major cities worldwide.
The microblogging site Twitter which is now valued at around $ 8 Billion have been dominating the social network industry which is dominated by Facebook. The redesigning of Twitter is one of the main reasons why the Saudi Prince was interested on buying a stake for the company.
Twitter redesign its interface splitting different elements into different sections. The redesign also frees up more room for advertising potential.
The commercial presence of Twitter challenged the world’s largest networking site Facebook with the introduction of brand page options. Last month Twitter brought Whisper Systems, a mobile security and encryption specialist.
The reported investment of the Saudi Prince have been confirmed by the officials from Twitter but did not give further details regarding the issue.
The Saudi Prince is listed as the 26th richest man on the 2011 Forbes Billionaire List. His (–foul word(s) removed–)ets includes 95 percent stake in Kingdom Holding Company; 91 percent ownership of Rotana Video & Audio Visual Company; 90 percent ownership of LBC SAT.
The Prince had also a 7 percent ownership of News Corp.; about 6 percent ownership of Citigroup; and 17 percent ownership of Al Nahar and 25 percent ownership of Al Diyar.
Prince Alwaleed bin Talal is the richest Saudi Billionaire and a nephew of reigning king of Saudi Arabia, King Abdullah.
