Saudi’s Kingdom Holding pays $50 million to raise Twitter stake to 0.72 percent
DUBAI – Saudi Arabia’s Kingdom Holding has paid $50 million to double its stake in microblogging site Twitter Inc, the Riyadh-based company said on Wednesday.
Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, now owns 0.72 percent of Twitter, having originally invested $50 million in the tech company in 2011.
Twitter listed on the New York Stock Exchange in November 2013. Its market capitalization is $18.7 billion, according to Reuters data. -Reuters