Saudi prince sends $1bn message on Twitter

They elevated their own reservations within the last 6 weeks in to 34,948,975 imparts, a little over 5 % of Twitter‘s stock, Alwaleed and Kingdom Holding, that he recliners, said within a seam testimony.

Kingdom Holding has paid $50 million to double its stake in the microblogging site to 0.72 percent, the Riyadh-based company said in a separate bourse statement.

With the most recent investments, Prince Alwaleed holds roughly 30,100,000 shares in Twitter and KHC has almost 4,850,000 shares. Alwaleed is majority owner and chairman of the Kingdom Holding Company, and is a significant investor in News Corp., Citigroup and the Four Seasons Hotels and Resorts.

So far in 2015, Twitter has vastly underperformed the market, with the stock down 23% year to date. Jack Dorsey owns 3.2 percent of Twitter’s shares.

Prince Al-Waleed might have changed his mind about the dual chief executive decision, but a few believe that Twitter has taken a significant risk by appointing someone who is also running another (soon to be) public company.

In July, Bin Talal the grandson of King Abdul-Aziz Alsaud, the founder and first ruler of Saudi Arabia, made headlines when he announced he would give his $32bn fortune to charity when he dies.

The announcement comes just days after Twitter named Dorsey as its permanent CEO.

As recently as June, he was critical of Twitter management and spoke against Dorsey succeeding Dick Costolo when he stepped down as CEO.