It so seems that this investment was made several months ago when existing Twitter shareholders sold $400 million of shares. In an emailed statement from Prince Alwaleed's talks about this transaction with San-Francisco based Twitter Inc., which he said was part of a drive "to invest in promising, high-growth businesses with a global impact." Prince Alwaleed has focused his investments in several verticals including banks, hotels and media companies, such as Citigroup Inc., News Corp., Apple Inc. and Time Warner Inc. News Corp. owns Dow Jones & Co., publisher of The Wall Street Journal. He is also developing a new Arabic-language satellite-news channel with Bloomberg LP.
It should come as no surprise that Prince Alwaleed, the nephew of Saudi King Abdullah, has been rated the Arab world's richest businessman, with more than $21 billion in wealth in 2011 by Arabian Business magazine. This is one prince the world should watch out for. Not only is he extremely power but with his wealth which he uses like a hawk his reach is spreading like wild forest fire.
[WSJ]
No comments:
Post a Comment