Prince Alwaleed Buys $300 Million Stake In Twitter
Posted on Mon Dec 19, 2011 10:17 AM PDT

PrinceAlwaleed200.jpgLOS ANGELES, California (X17online) - Prince Alwaleed bin Talal has purchased a $300 million stake in social media giant Twitter.

The Saudi billionaire and former friend to Michael Jackson, who already holds the second-largest stake in News Corp, made a joint investment in Twitter along with his Kingdom Holding Company investment firm.

"Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," Alwaleed said.

Alwaleed and Kingdom’s investment amounts to a 3.75% stake in the company.