A member of Saudi Arabia’s ruling royal family has become a significant shareholder in Twitter, one of the online tools used by protesters who staged this year’s “Arab spring” uprisings.
Prince Alwaleed bin Talal, the Saudi billionaire, has acquired a $300m stake in the US micro-blogging service after buying shares from existing shareholders in a secondary offer, according to one person familiar with the arrangement. The deal will leave him in control of a stake of around 3 per cent, based on the value of other recent private transactions.
The Saudi investment – a joint arrangement between the prince and the Kingdom Holding Company that he controls – came after months of talks and was a “strategic stake”, it said.
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