Arabian Prince Buy Stocks Twitter USD 2.7 Trillion

A billionaire from Saudi Arabia to buy some shares microblogging site Twitter. Prince Alwaleed bin Talal, spending $ 300 million or around Rp 2.7 trillion to acquire shares of the site bearing the bird.

Alwaleed is the nephew of the King of Saudi Arabia is indeed rich. According to Forbes magazine, his wealth almost USD 20 billion. He was interested enough in the media business, and previously had a 7% stake in News Corp. media company.

Alwaleed with Twitter shares purchased his own investment firm, Kingdom Holding Co.. With Twitter valuations of USD 8 billion, the purchase of shares worth $ 300 million to make Alwaleed has a percentage of 3.75% stake in Twitter.

Twitter itself grown into one of the most popular online networking site in the world. They have more than 100 million active users who log in at least once a month.