Saudi Prince Alwaleed is Twitter's Second-Largest Shareholder as the List of Highest Shareholders Emerge
- A Saudi Prince, Alwaleed bin Talal Abdulaziz has emerged as the second-largest shareholder on Twitter after Elon Musk
- The Prince owns both direct and indirect shares in the microblogging site through his Kingdom Holdings
- Others are institutional investors like Morgan Stanley, The Vanguard Group, and BlackRock.
Elon Musk completed the acquisition of Twitter on Thursday, October 27, 2022, and there were questions about who are the biggest stakeholders in Musk's latest acquisition.
There was a revelation that a Saudi Prince, Alwaleed bin Talal Abdulaziz announced in an SEC filing that he had invested $1.9 billion in Twitter, making him Twitter's second-largest shareholder after Musk.
Source: Getty Images
Elon Musk and a Saudi Prince
Abdulaziz tweeted at Musk and said that he and Musk are in this together, meaning his investment on the microblogging site.
PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!
Forbes reported that based on Musk's offer, he said he was rolling over his stocks worth about $34.948 million, which is about $54.20 per share.
Abdulaziz and his Kingdom Holdings now own about a 4 per cent stake in Twitter. The Prince owns a 94 per cent stake in Kingdom Holdings.
Top 5 Twitter Shareholders
Others are institutional investors, which dominate the list of Twitter's top shareholders, according to Investopedia.
Elon Musk: Owns 9.2 per cent
Elon Musk disclosed on April 4, 2022, that he held a 9.2 per cent stake in the company.
- Morgan Stanley - 8.4 per cent.
- BlackRock Inc. - 6.5 per cent
- State Street Corp. - 4.5 per cent
A week after Elon Musk acquired Twitter, Jack Dorsey launches New social media company
Legit.ng reported that barely a week after billionaire businessman Elon Musk snapped up Twitter in a $44 billion long-drawn deal, the platform's founder, Jack Dorsey, has launched a new social media firm.
Dorsey's blockchain company, Bluesky social, announced that it is currently enlisting users for its beta testing.
According to the company's representatives, the announcement enticed about 30,000 users to sign up within two days. Users can still sign-up to join the app to become beta users before it becomes available to the public.
Source: Legit.ng
