DealBook – Prince Walid bin Talal of Saudi Arabia announced he had taken a $300 million stake in the social media site Twitter, as he continues to expand his holdings in the United States.
The investment by Prince Walid and the Kingdom Holding Company represents roughly 3 percent of Twitter. Prince Walid, who owns 95 percent of Kingdom Holding, said in a statement that the purchase was part of a strategy “to invest in promising, high-growth businesses with a global impact.” With Twitter, Prince Walid — who also own stakes in American blue chip companies including Citigroup, General Motors and Apple — gains a foothold in the fast-growing social networking space.
