Al Waleed bin Talal, Saudi Arabia’s richest man, is now Twitter’s 2nd largest shareholder – El Financiero

Saudi billionaire Prince Al Waleed bin Talal has become the second largest shareholder of the “new” Twitter, after South African tycoon Elon Musk bought the social network.

“Dear friend “Chief Twit”, Elon Musk, together until the endAl Waleed said yesterday on his Twitter, after Musk himself announced the takeover of the social network.

The Saudi prince said he had transferred ownership of the existing 34,948,975 shares he held in Twitter, valued at $1.89 billion, to the “new Twitter,” making Al Waleed “the second largest shareholder after Elon Musk.”

In April last year, the Saudi refused Musk’s offer, also the CEO of Tesla, of 43 billion dollars (about 40 billion euros) to buy the social network.

“I don’t think Elon Musk’s proposed offer ($54.20 per share) is anywhere near the intrinsic value of Twitter, given its growth prospects,” the prince said at the time.

Alwaleed is the richest person in Saudi Arabiawith a fortune of 16.5 billion dollars, as shown by the Bloomberg Billionaires Index. Most of his wealth comes from his 95 percent ownership of the Kingdom Holding Company.

After becoming the sole owner of Twitter on Friday, Musk took the first steps in this new phase of the network with two more or less expected moves: replacing his top management and delisting from the New York Stock Exchange, with new content moderation policy.

On Thursday night, Musk tweeted “the bird has been released,” which was widely interpreted as an announcement that the $44 billion acquisition of Twitter was closing after several months. the ups and downs of an unpredictable billionairethe richest man in the world.

Although he did not announce it publicly, a few hours earlier it became known that Musk informed four of the most important managers of the network that they had been fired, including CEO Parag Agrawal, according to the main American media.

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