Elon Musk and the Prince of Saudi Arabia quarrel about the purchase of Twitter
Prince Alwaleed bin Talal of Saudi Arabia seems to be the one to decide whether Elon Musk can take control of Twitter.
The prince of Saudi Arabia identifies himself as a major shareholder of tech giant Twitter. He rejected the offer to buy the company worth 43 billion USD that Elon Musk made on April 14.
“I can’t believe Mr. Elon Musk offered to buy Twitter at $54.2 per share, close to Twitter’s intrinsic value based on the company’s growth prospects,” he wrote on Twitter.
Prince Alwaleed bin Talal announced his rejection of Elon Musk’s offer on Twitter.
Prince Alwaleed bin Talal bluntly wrote: “As Twitter’s largest and long-time shareholder, Kingdom company and I refuse this offer.”
However, the 67-year-old prince hinted that he would be more open to the idea if business magnate Elon Musk could pay more.
A few hours later, Elon Musk countered: “Interesting. If possible, I only want to ask two questions. How many parts of Twitter does Kingdom Company own, directly or indirectly? Kingdom’s position on language freedom What is newspaper commentary?
According to Forbes in 2017, the Prince of Saudi Arabia leads a notoriously lavish life. He owns three palaces, of which the main palace with hundreds of rooms is located in the center of Riyadh. He also owned one of the largest superyachts in the world and was worth $39.8 billion at the time.
In 2008, Prince Alwaleed was voted by Times magazine as one of the 100 most influential people in the world.
Despite being at the center of a fight with one of Twitter’s most influential people, Prince Alwaleed has not always had an easy life.
One of the richest people in the Middle East, Alwaleed almost lost everything after being arrested by Crown Prince Mohammed bin Salman in a corruption crackdown in 2017.
Prince Alwaleed is being held in the luxurious Ritz-Carlton hotel in Riyadh until he is released. A Saudi official told RT news agency that Prince Alwaleed is accused of money laundering, bribery and extortion of government officials.
It is not clear what he did to get his release. Some sources say he paid at least $6 billion to get out of jail.
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