RIYADH, Saudi Arabia – Prince Alwaleed bin Talal, - nephew of Saudi King who earlier this month was declared as the Arab world’s richest business man - announced the purchase of a $300 million stakes in microblogging site Twitter.
|Billionaire Saudi Prince Alwaleed bin Talal purchased $300 million stakes in Twitter|
According to an emailed statement from Prince Alwaleed’s Kingdom Holding Company; the huge investment in Twitter by the company is part of a drive “to invest in promising, high-growth businesses with a global impact.”
Prince Alwaleed’s stake is equivalent to 3.6% of the Twitter’s total value of $8.4 billion estimated by the analysts in October this year.
Microblogging site Twitter - allows users to send messages called ‘tweets’ of up to 140 characters each – has achieved recently a land mark of 100 million active users who send 250 million tweets per day.
Continue reading below: