Lyft is now partly owned by Saudi prince Al-Waleed Bin Talal bin Abdulaziz al Saud. The prince led a recent $247.7 million round for a roughly 5 percent stake in the ridesharing service – putting up $105 million in his own funding as part of the deal for 2.3 percent of the pie. Al-Waleed is a global investor and business magnate some have dubbed the “Arabian Warren… Read More
In an unexpected move, a member of the Saudi royal family has invested $300 million in social networking company Twitter. This morning, Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, founder and CEO of Kingdom Holding Company and one of the wealthiest people on the planet, announced the investment, which was reported first by Bloomberg.
In a statement, Twitter’s newest equity holder says that the investment was the result of “several months of negotiations and comprehensive due diligence”.
Prince Alwaleed commented: “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact.”
Prince Alwaleed and Kingdom Holding have stakes in many Arab and international media and entertainment companies; including a roughly 7 percent stake in News Corp.
According to Wikipedia, Kingdom Holding’s international investments include (or have included) other notable tech companies such as Apple, eBay, AOL, Motorola, Compaq and Amazon.
We’ve contacted Twitter for comment and will update when we hear back.