Saudi Arabia’s Prince Al Waleed bin Talal and his firm Kingdom Holding have doubled their stake in Twitter to own more than five percent of the microblogging company, Reuters reports.
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With the most recent investments, Prince Alwaleed holds roughly 30,100,000 shares in Twitter and KHC has almost 4,850,000 shares. 45 % of this very firm, as reported by Reuters problems, making reference to most of the couple of parties’ united stake.
Alwaleed and Kingdom Holding, in which the prince owns a 95 percent stake, now have 35 million shares in Twitter after increasing their ownership over the past six weeks, according to an e-mailed statement from the billionaire’s office. It is not clear whether the prince’s personal investment in Twitter had changed.
The Saudi billionaire and Kingdom Holding, first invested $300m in Twitter in 2011.
Twitter listed on the New York Stock Exchange in November 2013. The stock traded downwards over heavy volume yesterday, as it slumped almost 2% to close at $27.72.
Twitter, which has yet to turn a profit and is struggling to expand its user base above 300 million people, on Monday confirmed co-founder Jack Dorsey as its CEO.
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As recently as June, he was critical of Twitter management and spoke against Dorsey succeeding Dick Costolo when he stepped down as CEO in June.
