(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 value” 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.
