Saudi Prince Bought Some Shares Twitter of U.S. $ 300 Million

Saudi Prince Bought Some Shares Twitter of U.S. $ 300 Million 

Saudi Prince Walid bin Talal, reported to have bought shares of Twitter. The value of purchase is U.S. $ 300 million. "Our investment in Twitter strengthen our ability to identify opportunities to invest in promising businesses with high growth and have a global impact," said Walid in a statement on its website the company,

 Kingdom Holding. Reported that the stock purchase agreement negotiations took several months. For that much money, Kingdom Holding a Twitter shares by 3.75 percent.

Walid is known as one of the richest men in the world. His efforts more in the media, one of which plan to bring Alarab television station in 2012.

"We believe social media will fundamentally change the media industry in the next few years," said Ahmed Halawani, one executive director at Kingdom Holding. In the Arabian peninsula, Twitter users have increased dramatically. Of only 99 000 tweets per day in October 2010, to 2 million tweets per day in October 2011.

Arabic is currently eighth most widely used language on Twitter. Walid (sometimes called Al Walid) bin Talal bin Abdul Aziz is the nephew of King Abdullah of Saudi Arabia. His wealth is said to reach 20 billion U.S. dollars. He also has a seven percent stake in News Corp.

Sources : AFP