(Bloomberg) -- Saudi Arabia’s Prince Alwaleed bin Talal gave a strong endorsement for Elon Musk’s bid for Twitter Inc. after last month questioning the Tesla Inc. billionaire’s proposed takeover.
“I believe you will be an excellent leader for @Twitter to propel & maximise its great potential,” Prince Alwaleed tweeted. “@Kingdom_KHC & I look forward to roll our ~$1.9bn in the “new” @Twitter and join you on this exciting journey”.
The prince, one of the richest individuals in Saudi Arabia, last month said Musk’s bid to acquire Twitter for $54.20 per share doesn’t “come close to the intrinsic ” of the popular social media platform.
Alwaleed, chairman of the board at Kingdom Holding Co. and one of Twitter’s largest backers, has now agreed to roll over his current investment.
©2022 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR