Saudi Prince gives Twitter a $300m present, which is obviously not dodgy in any way
A Saudi Arabian billionaire called Prince Alwaleed bin Talal (and if you can't trust a wealthy Saudi prince, who can you trust?) has bought a very expensive stake in Twitter to the tune of £193m (or $300m if you like more aesthetically pleasing numbers).
Now, Mr Alwaleed obviously likes to have his fingers in media pies as he already owns 7% of Rupert Murdoch's News Corporation, a company who has come in for some serious stick on the microblogging site.
He's the main shareholder in Kingdom Holdings, who also own chunks of Citigroup, Apple and Time Warner.
In a statement the Saudi king's nephew said the move was "the result of several months of negotiations", adding; "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact."
Forbes magazine reckon the Saudi royal is personally worth around £13bn while Kingdom Holdings has assets valued at £16bn. That's rich. Alongside Alwaleed's launch of a new 24-hour Arabic business news channel, it looks like we might have a new Rupert Murdoch on our hands, potentially.