Kingdom Holding pays USD50m to double its Twitter stake

08 Oct 2015

(MENAFN) Saudi investment firm Kingdom Holding and its owner the billionaire Prince Alwaleed bin Talal now own more than 5 percent of Twitter Inc., the Prince’s office said.

Kingdom Holding has paid a total of USD50 million to double its stake in the microbologging site to 0.72 percent, the Riyadh-based company said in a separate statement.

Prince Alwaleed personally owns 4.45 percent of the US-based company, according to Reuters calculations, accounting for the bulk of the two parties’ combined stake.

Twitter has listed on the New York Stock Exchange in November 2013. Its market capitalization is USD18.7 billion, according to data released by Reuters.

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