Kingdom Holding Company and the private office of Prince Alwaleed Bin Talal will keep its share in Twitter after controlling Musk on the social media company.
The Kingdom of Saudi Arabia Holding Company for the Kingdom of Saudi Arabia (KHC), along with the Special Office of Prince Alloel Ben Talal, will continue its ownership of Twitter shares of $ 1.89 billion after Elon Musk’s acquisition of the social media company, which makes it the second largest investor, according to a statement issued by the Saudi prevail.
Bin Taltal, who participated in the statement on his Twitter account on Friday, and referred to Musk in the name of “Twit President”, that the deal was in line with the long -term strategy of KHC.
The company was established by Ben Taltal, owned by 16.9 percent of the Saudi sovereign wealth fund.
As of January 2022, the Kingdom of Saudi Arabia, with a population of 34.8 million, had the eighth most of the Twitter users in any country in the world, with more than 12 million users.
Musk, the richest person in the world, announced on Thursday that he had completed a $ 44 billion acquisition.
“The bird was released”, Tweet Musk, referring to the Twitter’s Twitter logo in a clear indication of its desire to see the company has less limits to the content that can be published.
However, the CEO of Tesla Inc, and the self -described, said he wanted to prevent the platform from becoming an echo room for hatred and division.
Musk, CEO of Twitter Parag Agrawal, launched NED SEGAL, legal affairs and politics, according to persons familiar with the matter. He accused them of misleading him and Twitter investors about the number of fake accounts on the platform.
The sources added that Agrawal and Segal were at San Francisco headquarters on Twitter when the deal was closed and accompanied.
Musk, who runs the Rocket Company Spacex, plans to become the temporary CEO of Twitter, according to a person familiar with the matter.
The acquisition represents the end of the long -term epic; MUSK showed for the first time buying Twitter in April, before trying to retract the deal, then eventually finish the purchase to take a private social media company.
Unlike Friday’s statement, Ben Tall initially refused to offer Musk in April, saying that he had not approached the “fundamental value” of Twitter.
At the time, Musk replied by asking what the opinions of the Kingdom of Saudi Arabia about the freedom of journalistic expression.
Musk’s purchase of Twitter was secured with funding from a number of investors, including Larry Elison, co -founder of the Oracle software and QATAR Holding, which is controlled by the sovereign wealth fund in Qatar.