Saudi Prince Buys $300M Twitter Inc. Stake

Published on December 20, 2011 by Sincerely Smith · No Comments

You have to literally live under a #Rock if you don’t know the growing micro-blogging site known as Twitter is the next big deal. To many, it IS the deal! Prince Alwaleed bin Talal of Saudi Arabia knows this all too well–to the tune of $300 million bucks, actually. The middle eastern Prince plopped down the lump sum for a stake in Twitter, Inc. Siting is exponential growth as one of the reasons of interest, per The New York Times. Unfortunately I didn’t have an extra $300 Million bucks laying around the house or I would have purchased the Twitter stake myself; however, Prince Alwaleed beat me to the punch.

That $300M price tag bought the Prince a mere 3% stake in the booming company, which is a landmark deal for the Prince since it extends the billionaires empire into social media–he already owns a 95% stake in Kingdom Holding.

The move was part of a drive “to invest in promising, high-growth businesses with a global impact,” the company said in a statement.

Interesting to see how this smart business man is going to make social media work for him.

Note to anyone who’s trying to do business in the 21st century. Take heed to the importance of social media. Would a Prince clear across the world take interest (to the tune of $300M) in a San Francisco based company if it wasn’t worth it, wasn’t promising, or wouldn’t yield a return? Understanding trends in business is always a smart thing to do.

I don’t have $300M, but if someone can contact the peeps over at Twitter, Inc. let them know yo’ boy has $30 on it!

-Smith