Richest Arabs Buy Twitter Rp2, 7 Trillion

Reading Always - Richest Arabs Buy Twitter Rp2, 7 Trillion. Alwaleed bin Talal, prince of Saudi Arabia to buy the stock from one of the founders of Twitter. Prince Alwaleed bin Talal, Kingdom Holding Co. through his company. announced that they bought Twitter shares valued at U.S. $ 300 million or approximately Rp2, 7 trillion. This purchase is a strategic investment to companies that have transformed the media industry. 

In an official statement published in the Wall Street Journal, a prince from Saudi Arabia stated, the purchase of shares of Twitter also marks the prince's investment in promising businesses that have a global impact.

According to Arabian Business magazine, Prince Alwaleed himself was asked as the richest man in Saudi Arabia. As of 2011, the assets that he had reached U.S. $ 21 billion or around Rp190 trillion. He himself has reportedly tried to buy Twitter stock from one of the founders of the company since last October.

The investment of U.S. $ 300 million representing more than 3% of the shares of the company's microblogging site that in the second half of this value reached U.S. $ 8 billion or about Rp72 trillion.

"In the future, social media will change fundamentally our media industry. Twitter will capture and take advantage of this positive trend, "said Ahmed Halawani, Executive Director of Private Equity and International Investment Kingdom Holding, quoted by the Wall Street Journal, December 19, 2011.

Matt Graves, spokesman for Twitter has informed the investments made by Prince Alwaleed. Nevertheless, he was not willing to comment further related that the purchase of company stock.