Saudi Prince Buys Stake in Twitter

By Cynthia Herbert :: 2:16 AM

Saudi Arabian Prince Alwaleed bin Talal, the largest investor in Citigroup, has reportedly invested $300 million to buy a strategic stake in Twitter.

The prince’s investments include General Motors, News Corp. and Apple. He is the nephew of Saudi Arabia’s King Abdullah, and has been ranked as the richest Arab businessman in 2011 by Arabian Business magazine. His assets are valued at over $21 billion.

His holding company released the following statement regarding the transaction: “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.”