RIYADH: Saudi Kingdom Holding Co. and the private office of Prince Alwaleed Bin Talal announced the roll over of their ownership of the existing 34,948,975 shares in Twitter valued to the New Twitter, led by Elon Musk.
KHC and PO are jointly the second largest investor after Elon Musk, the Prince shared on his Twitter account, with the shares valued at $1.89 billion.
The deal is in line with KHC's long-term investment strategy.
Musk took control of Twitter and fired its top executives late Thursday in a deal that puts one of the leading platforms for global discourse in the hands of the world’s richest man.
Musk sacked chief executive Parag Agrawal, as well as the company’s chief financial officer and its head of safety, the Washington Post and CNBC reported citing unnamed sources.
