Saudi Arabia’s Kingdom Holding Company (KHC) and the private office of Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud (PO) are the second largest combined investor in the micro-blogging site Twitter.
In a tweet, Prince Alwaleed referred to Tesla CEO and incumbent Twitter owner Elon Musk as ‘Chief Twit’.
The Prince also issued a statement, in which the Kingdom Holding Company and his private office announced the rollover of their ownership of existing Twitter shares (34,948,975), valued at $1.89bn to the “New” Twitter. “KHC and PO are jointly the second largest investor after Elon Musk,” the statement added.
Elon Musk completed the acquisition of Twitter on October 28, six months after initially proposing to purchase the social network. Shareholders will be paid $54.20 per share.