Saudi’s Kingdom Holding company to maintain Twitter stake

SAUDI Arabia’s Kingdom Holding Company and the private office of Prince Alwaleed Bin Talal said on Friday (Oct 28) that they will continue their ownership of Twitter shares valued at US$1.89 billion after Elon Musk’s takeover of the social media company, according to a statement tweeted by Prince Alwaleed.

Elon Musk took ownership of Twitter on Friday and the self-described free speech absolutist has said his desire is to see the company have fewer limits on content that can be posted on the influential social media platform.

Alwaleed’s Kingdom Holding is 16.9 per cent owned by Saudi Arabia’s sovereign wealth fund chaired by crown prince Mohammed Bin Salman.

Prince Alwaleed bin Talal rose to international prominence after making a big successful bet on Citigroup in the 1990s and he was an early investor in Apple.

The prince has also made hundreds of millions of US dollars by investing in companies such as Uber Technologies to Twitter. REUTERS