Prince Alwaleed bin Talal, the biggest individual investor in Citigroup Inc., and his Kingdom Holding Co. invested $300 million to take part for a “strategic stake” in microblogging service Twitter Inc.
“The investment is the result of several months of negotiations,” Kingdom Holding said in a statement to the Saudi bourse today.
Prince Alwaleed’s several investments include stakes in General Motors Co., News Corp. and Apple Inc. The prince, a nephew of Saudi Arabia’s King Abdullah, was ranked the richest Arab businessman this year by Arabian Business magazine with assets valued at $21.3 billion. Kingdom Holding, 95 percent owned by the prince, is building the tallest tower in the world in Jeddah at a cost of 4.6 billion riyals ($1.23 billion).
Prince Alwaleed
