• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Feature
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. MENA US & Canada
  4. Saudi Prince AlWaleed Bin Talal to keep shares in Musk's Twitter
MENA

Saudi Prince AlWaleed Bin Talal to keep shares in Musk's Twitter

  • By Al Mayadeen English
  • Source: Agencies
  • 29 Oct 2022 12:23

An estimated $1.89 billion is expected to roll over to now-owner of Twitter, Elon Musk.

  • Saudi Prince Al Waleed Bin Talal (TechCrunch)
    Saudi Prince Al Waleed Bin Talal (TechCrunch)

Following tech mogul Elon Musk's infamous Twitter takeover, Saudi Prince Alwaleed bin Talal announced on Saturday that he will maintain his partial share of the social media platform.

In a tweet released by Bin Talal’s Kingdom Holding Company, it was confirmed that its Twitter stock, valued at $1.89 billion, will roll over to Twitter, now owned and led by Musk. This makes Bin Talal the second-largest investor, following Musk. 

A $300 million joint investment in Twitter was made by the prince and Kingdom in 2011, and his stake was increased in 2015. He agreed in May to roll the stake worth $1.89 billion into Elon Musk's takeover deal rather than cash out.

Dear friend "Chief Twit" @elonmusk

Together all the way 🤝🏻 @Twitter https://t.co/J9rnd013xz pic.twitter.com/bXo6RUaUwk

— الوليد بن طلال (@Alwaleed_Talal) October 28, 2022

While Bin Talal remains the company's chairman, his authority over the company was called into question by the US media, including the Wall Street Journal, after it was revealed that the Saudi royal - a cousin of the crown prince - had been held captive at the Ritz Carlton in Riyadh for 83 days. Tensions slight rose when Talal criticized Musk’s intentions to buy Twitter by stating that the offer was not sufficient to which Musk responded by criticizing the restrictrions on free speech in Saudi Arabia.

Musk has promised to turn down content moderation to a minimum since he took control of Twitter..

  • Alwaleed Bin Talal
  • US
  • Prince Alwaleed bin Talal
  • Elon Musk
  • Twitter
  • Saudi Arabia

Trending Now

All
US Senator Ed Markey (edmarkey.com)

Senator gets impersonated twice, Twitter fails authentication again

Most Read

Chief of Russian Radiation, Chemical and Biological Protection Force Igor Kirillov (TASS)

20,000 docs obtained by Russia expose US biowarfare program in Ukraine

  • Europe
  • 30 Jan
Neo-compradors: the leftist foot soldiers of Imperialism

Neo-compradors: the leftist foot soldiers of Imperialism

  • MENA
  • 2 Feb
The Utter Disconnect between 'Realities'

The Utter Disconnect between 'Realities'

  • Analysis
  • 30 Jan
'Israel's' attack on Bukamal targeted food, medicine convoy (Footage)

Israeli attack on Al-Bukamal targeted food, medicine convoy (Footage)

  • MENA
  • 30 Jan

Read this

All
A train crosses the Russian-Chinese border in Manzhouli, China (Getty Images)
Asia

Cargo traffic via Russia-China border hits record high in January

  • Today
A large balloon drifts above the Kingstown, North Carolina area, with an airplane and its contrail seen below it (AP Photo)
US & Canada

US fighter jet shoots down Chinese balloon off SC coast

  • 4 Feb
IOF raids Ariha, Ezzeddine Qassam Brigades respond
Palestine

IOF raids Ariha, Ezzeddine Qassam Brigades respond

  • 4 Feb
An aerial picture of the gas leak in the Baltic Sea, taken from an F-16 fighter jet belonging to the Danish Armed Forces (Danish Defense Ministry)
Europe

Germany cannot prove Russia sabotaged Nord Stream pipelines - reports

  • 4 Feb
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • About Us
  • Contact Us
  • Authors
Android
iOS