Saudi billionaire Prince Alwaleed bin Talal and his investment company said Monday they are investing a combined $300 million into Twitter, increasing the microblogging site's cash cushion as its user base expands.
Alwaleed's joint investment with his Kingdom Holding Co. follows months of negotiations and will give them a "strategic stake" in Twitter, according to the Riyadh, Saudi Arabia-based investment firm. It wasn't clear how much of Twitter the prince will control.
Alwaleed, a nephew of the Saudi king, ranks 26th on Forbes' list of the world's richest people. He has a history of investing in media and technology companies, and said the deal represents an interest "in promising, high-growth businesses with a global impact."
Saudi billionaire Prince Alwaleed bin Talal and his investment company said Monday they are investing a combined $300 million into Twitter, increasing the microblogging site's cash cushion as its user base expands.
http://www.nypost.com/p/news/business/saudi_prince_invests_million_in_OnyrcIxTLtGQV8b3h0UFvN
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