Saudi Arabia’s billionaire Prince Alwaleed bin Talal (pictured) has invested some $300m in Twitter, the social media network used frequently as a tool of protest.
While the move might look odd for a member of the royal family in a country which is nervous of the internet, it seemed to make sense to the shareholders of Kingdom Holding, the prince’s investment company. Its shares surged by 5 per cent after the announcement. Saudi Arabia’s benchmark Tadawul All Share index fell 0.25 per cent.
“Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact,” Alwaleed said in a statement reported by Reuters.
No comments:
Post a Comment