Saudi Prince Al Waleed becomes the second largest shareholder of the “new” Twitter
The billionaire Saudi prince Al Waleed bin Talal became a Saudi Arabian prince. in the second largest shareholder of the “new” Twitter, after the South African tycoon Elon Musk acquired the social network. “Dear friend “Chief Twit”, Elon Musk, together all the way,” Al Waleed said yesterday on his Twitter account, after Musk himself announced the acquisition of the social network.
The Saudi prince He said he transferred The ownership of the existing 34,948,975 shares that it had on the platform, valued at 1,890 million dollars, to the “new Twitter”, so that Al Waleed becomes “the second largest shareholder after Elon Musk”, according to the announcement. Al Waleed himself on his account.
Dear friend “Chief Twit” @elonmusk
Together all the way 🤝🏻 @Twitter https://t.co/J9rnd013xz pic.twitter.com/bXo6RUaUwk
— الوليد بن طلال (@Alwaleed_Talal) October 28, 2022
The Saudi prince he is known for his international investments. He owns luxury hotels in Paris and New York, such as the Four Seasons in Paris or the Savoy in London, as well as the Savoy. as a shareholder Citigroup or Uber Dubai through its investment vehicle Kingdom Holding Company. Last April, Al Waleed rejected Musk's offer, also CEO of Tesla, of 43,000 million dollars (close to 40,000 million euros) to buy the social network. “I don't think Elon Musk's proposed offer ($54.20 per share) comes close to the intrinsic value of Twitter, given its growth prospects >”, the prince then said.
But this has changed. after Musk became the sole owner of Twitter. on Friday.On Thursday night, the tycoon tweeted “The bird has been released”, which was interpreted as an announcement that the Twitter purchase operation was closed for 44,000 million dollars, after several months of ups and downs. And although he did not make it public, a few hours before it became known that Musk had informed the four most important managers of the network that they were fired, including the CEO, Parag Agrawal , as published by the main US media, in addition to its exit from the New York Stock Exchange and the implementation of a new content moderation policy.
That Saturday, Al Waleed tweeted that he was joining the project of the richest man in the world after transferring all the shares he had in the social network to the “new Twitter led by Elon Musk”. “The agreement is in line with the long-term investment strategy that characterizes Kingdom Holding Company,” added the statement shared by the Saudi prince.