Saudi Arabia’s Kingdom Holding Company and Prince Alwaleed Bin Talal’s private office said Friday they will continue their ownership of Twitter stock worth $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-proclaimed free speech absolutist has said his wish is for the company to place fewer restrictions on content that can be posted on the influential social media platform.
Alwaleed’s Kingdom Holding is 16.9% owned by Saudi Arabia’s sovereign wealth fund, chaired by Crown Prince Mohammed Bin Salman.
Prince Alwaleed bin Talal gained international fame after making a major successful bet on Citigroup Inc (CN) in the 1990s and he was an early investor in Apple Inc.
The prince has also made hundreds of millions of dollars investing in companies such as Uber Technologies Inc to Twitter Inc.
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