Saudi Kingdom Holding Company and Prince Alwaleed bin Talal’s private office have said they will keep their stake in existing Twitter shares, which are worth $ 1.89 billion, after Elon Musk acquired the social media company, according to one. statement published by the prince on Twitter.
He added in a statement that Kingdom Holding Company and Prince Alwaleed bin Talal’s private office are the second largest shareholders after Musk.
Dear friend “Twit boss” @Elon Musk
Together all the way 🤝🏻 @Twitter https://t.co/J9rnd013xz pic.twitter.com/bXo6RUaUwk
– Alwaleed bin Talal (@Alwaleed_Talal) October 28, 2022
Musk, who describes himself as a freelancer, took over ownership of the company on Friday and said he wanted to ease restrictions on content that can be posted on the influential social media platform.
The Saudi sovereign wealth fund, headed by Crown Prince Mohammed bin Salman, owns 16.9% of Prince Alwaleed’s Kingdom Holding Company.
Prince Alwaleed gained international fame after betting enormously on Citigroup in the 1990s and was one of the first investors in Apple.
The prince has also made hundreds of millions of dollars by investing in companies like Uber Technologies and Twitter.
