Monday, December 19, 2011

Saudi Prince fuses $300 Million in Twitter

In his effort to make his coffers even fuller one of the world’s richest men has invested in Twitter to make him even richer. Saudi Prince Alwaleed bin Talal announced on Monday that he has invested around $300 million in the immensely popular micro blogging site that is undergoing a revamp exercise to attract more advertisers. “Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact,” Alwaleed said in a press release, which described Twitter as a “communication platform that instantly connects people everywhere to what`s most meaningful to them.”

Alwaleed, who is worth around $20 billion, already holds stakes in Citigroup, General Motors, Apple and News Corp, among other companies.


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