Saudi billionaire Prince Alwaleed Bin Talal and his investment company have doubled their shares in Twitter, to become the microblogging site’s second largest shareholder.
A joint statement released yesterday by the prince and his Kingdom Holding Company revealed that their combined shares represent more than five per cent of Twitter’s common stock, with a market value of $1 billion.
The prince and Kingdom Holding originally invested $300 million in Twitter in 2011 before the site went public two years later.