- Flickr/Devyatka Site
- Saudi Prince al-Waleed bin Talal was arrested on Saturday as part of a wide-reaching anti-corruption roundup of officials. The Prince is a multi-billionaire who owns shares in a number of large tech and entertainment companies. Twitter, one of al-Waleed’s largest holdings, was down on Monday following the news of his arrest. Watch Twitter’s stock price move in real time here.
Billionaire Prince al-Waleed bin Talal was arrested on Saturday as part of a wide-reaching roundup of Saudi officials and royalty. Prince al-Waleed is known as an investor through his majority stake in the investment company Kingdom Holding, which has invested in a large number of international companies including Twitter, Citigroup, Apple and others.
The prince is worth about $19 billion, according to data from Bloomberg. His largest source of wealth, worth $8.4 billion, is his stake in Kingdom Holding Company. The billionaire also owns a 4.71% stake in Twitter, worth about $607.8 million.
Twitter was down 2.26% on Monday, the first day of trading since news of al-Waleed’s arrest. The Prince’s stake amounts to about 34.95 million shares of the company, making him the fourth largest investor, behind two investment firms, Vanguard and Clearbridge, and co-founder Evan Williams, according to data from Bloomberg.
Through Kingdom Holding, al-Waleed also holds shares in Citigroup, 21st Century Fox, Time Warner, Apple, Ebay, and Motorola, according to the company’s website. The size of Kingdom Holding’s stake in these companies was not disclosed, and the company could have changed or closed its positions since last updating their website.
It is unclear what will happen to al-Waleed’s investments after his arrest, and some of the companies he invests in were down on Monday.
Here’s where some of the prince’s biggest investments are trading Monday morning:
- Twitter (TWTR) -2.26% Citigroup (C) -1.09% Apple (AAPL) +1.18% Ebay (EBAY) +0.13% Time Warner (TWX) +0.21% 21st Century Fox (FOXA) +0.20%
- Markets Insider