Tech Saudi’s Kingdom Holding to maintain $1.89bn Twitter stake By Reuters October 30, 2022 REUTERS/Faisal Al Nasser Prince Alwaleed rose to international prominence after making a big successful bet on Citigroup Inc in the 1990s Saudi Arabia’s Kingdom Holding Company and the private office of Prince Alwaleed bin Talal said on Friday that they will continue their ownership of Twitter shares valued at $1.89 billion after Elon Musk’s takeover of the social media company, according to a statement tweeted by Prince Alwaleed. Elon Musk took ownership of Twitter Inc on Friday and the self-described free speech absolutist has said his desire is to see the company have fewer limits on content that can be posted on the influential social media platform. Alwaleed’s Kingdom Holding is 16.9 percent owned by Saudi Arabia’s sovereign wealth fund chaired by Crown Prince Mohammed Bin Salman. Prince Alwaleed rose to international prominence after making a big successful bet on Citigroup Inc in the 1990s and he was an early investor in Apple Inc. The prince has also made hundreds of millions of dollars by investing in companies such as Uber Technologies Inc to Twitter Inc. “The bird is freed,” Musk tweeted, referencing Twitter’s bird logo in an apparent nod to his desire to see the company have fewer limits on content that can be posted. The CEO of electric car maker Tesla Inc has, however, also said he wants to prevent the platform from becoming an echo chamber for hate and division.
