27 Jan 2012

Saudi Prince Goes On The Record About $300M Twitter Investment [VIDEO]

By Lauren Dugan at Media Bistro:
Late last year, Prince Alwaleed bin Talal, the Saudi Arabian businessman and the founder and CEO of Kingdom Holding, invested $300 million in Twitter. And he spoke to CNN this week about why he chose Twitter to add to his growing portfolio of tech companies.

As Alwaleed explains to CNN, he’s not new to the tech scene. his company was an early investor in Apple, Amazon and eBay, among other top tech companies.
He says that Kingdom Holding chose Twitter because they believe it will be around for the long-haul:
“We don’t believe we came in at the early stage, but clearly we don’t believe we came in at the plateau stage. We see that this company’s viability and its continuity and its resilience will be there in the decades to come, and that’s why we proposed to be an investor…”
Alwaleed was also asked about any possible political motivation for owning a large chunk of Twitter, given that it was instrumental in the Arab Spring uprisings. However, he responded that this was a purely economical investment, with no political intentions.
Prince Alwaleed also addresses whether he still feels comfortable with such a large stake in Apple now that Steve Jobs has passed away, whether News Corp should become less of a family company, and a new news channel that he has planned. You can check out CNN’s interview with Prince Alwaleed below:

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