Regulatory filings show the Saudi prince has taken down nearly 35 million Twitter shares. (Representative)
Elon Musk last week bought Twitter Inc. for $44 billion with the help of a Wall Street bank loan and shareholders who agreed to roll back their interest in the social media service in exchange for a stake in the new private company.
That means Twitter, whose shares were delisted last week after nearly a decade as a public company, has a new lineup of top investors.
Prince Alwaleed bin Talali
Regulatory filings show that the Saudi prince transferred about 35 million Twitter shares through the Kingdom Holding Company, with a $1.9 billion per share sale price of $54.20. This made him the “second largest investor” in the new parent company.
Alwaleed backed Musk’s plan to acquire Twitter in May, saying Musk would be “an outstanding leader” for the social media company.
jack dorsey
The Twitter co-founder and former chief executive just rolled over 18 million shares, or about 2.4% of the public company, at a merger value of about $978 million. This gave him Musk’s X Holdings Eye Inc. which controls Twitter.
After Musk first agreed to buy Twitter in April, Dorsey lamented that the company was “owned” by Wall Street and said taking it private was the “right” first step.
Qatar Investment Authority
A subsidiary of Qatar’s Sovereign Wealth Fund contributed $375 million in exchange for shares in Musk’s holding company.
The Bloomberg Billionaires Index estimates that Twitter stock has lost nearly 40 percent in the value of rolled bets since Musk made his offering in April based on a declining index of the social-media company’s shares.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)