Liz Gannes

Recent Posts by Liz Gannes

Saudi Prince Invests $300M in Twitter

Prince Alwaleed bin Talal — the nephew of the Saudi Arabian King Abdullah — has invested $300 million in Twitter. Alwaleed is one of the richest people in the world, currently ranked No. 26 on Forbes’ billionaire list, with a net worth of $19.6 billion.

The Twitter investment, through his Kingdom Holding Co., was just announced via press release and confirmed by Twitter.

A spokesman for Twitter said he had no additional details to share beyond the release.

Twitter’s last round of funding, which closed this summer, valued the company at $8.4 billion and was led by Digital Sky Technologies (DST) of Russia.

Of late, the most well-known international Web investor has been DST founder Yuri Milner, who has stakes in Twitter, Facebook and Zynga. Prince Alwaleed has been more active as a media investor, with a large stake in News Corp. (which owns AllThingsD), for instance.

In a statement, a Kingdom Holding Co. executive noted the coming impact of social media on the media industry, and Twitter’s potential to monetize it.

If you’re looking to get a better sense of Prince Alwaleed, here’s a Charlie Rose interview from last year.

Latest Video

View all videos »

Search »

I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik