Saudis 'second largest investors' in Twitter after Musk takeover

[sl8]

https://www.aljazeera.com/news/2022/10/28/saudis-kingdom-holding-company-to-maintain-twitter-stake

Saudis ‘second largest investors’ in Twitter after Musk takeover

28 Oct 2022

Kingdom Holding Company and the private office of Prince Alwaleed bin Talal will maintain their stake in Twitter after Musk took control of the social media company.

Saudi Arabia’s Kingdom Holding Company (KHC), along with the private office of Prince Alwaleed bin Talal, will continue their ownership of Twitter shares valued at $1.89bn after Elon Musk’s takeover of the social media company, making them jointly the second largest investors, according to a statement released by the Saudi prince.

Bin Talal, who shared the statement on his Twitter account on Friday, and made reference to Musk as “Chief Twit”, stated that the deal was in line with the long-term strategy of KHC.

[...]

As of January 2022, Saudi Arabia, with a population of 34.8 million, had the eighth most Twitter users of any country in the world, with more than 12 million users.

[...]

[Scrivener7]

1. Charming.

[PortTack]

2. What could possibly go wrong? Ughhh

[twodogsbarking]

3. Anyone trust the Saudis?

Anyone?

[Ray Bruns]

4. "Crickets"

[Haggard Celine]

5. And also, who do the Saudis trust?

They seem to trust Jared and the Trumps an awful lot. They seem to have a lot of faith in Musk as well. Go figure.

[dalton99a]

7. They love a good liar

[Haggard Celine]

8. They're the filthy rich basket of deplorables.

And they never think they have enough money or power. I wish we could send all of them to Saudi Arabia so they can live in that fundamentalist shithole that they've created. That's where they belong, not in a place where people are trying to bring about progress.

[Celerity]

9. Elon Musk faces off with Saudi Prince Talal over Twitter sale

The Tesla owner has questioned Saudi Arabia’s role in the tech company after the prince ‘rejects’ the proposed deal.

15 Apr 2022

https://www.aljazeera.com/news/2022/4/15/musk-faces-off-with-saudi-prince-talal-over-bid-to-buy-twitter

Elon Musk has questioned Saudi Arabia’s role in Twitter Inc after Saudi Arabia’s Prince Alwaleed bin Talal tweeted his opposition to the billionaire entrepreneur’s offer to buy the social media company.

The prince tweeted on Thursday from his verified account that Musk’s offer of a $43bn cash takeover of the company does not come close to the “intrinsic value” of Twitter.

“Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer,” the prince said, referring to the Saudi Arabia-based Kingdom Holding Company, which he owns. The prince also shared a 2015 tweet, in which he wrote that his company’s ownership stake in Twitter had risen to 5.2 percent.

Musk, who owns 9.2 percent of Twitter, responded to the tweet, asking how much of Twitter, directly and indirectly, was owned by Saudi Arabia. “What are the Kingdom’s views on journalistic freedom of speech?” Musk added.

snip

[Haggard Celine]

11. Twitter investors want to make sure that the company

has an inflated worth, just like a lot of other companies are. If they increase the worth of Twitter stock, they can cash in later for a tidy sum. They want to make it seem like Musk is getting a bargain for the shares he bought. Musk and Saudis all want the price of Twitter stock to soar. If they have to make money by pretending there's a rift between them, they will do it. Maybe the people who were invested in cryptocurrency will want to get suckered again.

[RainCaster]

16. How many Saudis are bots?

Seems a logical question to me.

[Fullduplexxx]

6. And I should stay on Twitter?

If every one on the left and the left leaning indies left then the magats will abandon Twitter for there will be no lefties for them to try to annoy

[Emrys]

14. Nah, they'd love it.

As in real life, the idea of annoying somebody is their main motivation, whether there's actually anybody who's annoyed or not. They'd revel in their extended echo chamber.

They overestimate their impact, and RW trolling is so rife that it's not as shocking as it might once have been, and those who are bothered by it use the tools available to either block, mute or report the worst offenders, or just troll right back, but better.

That last measure's not always productive, but it can be quite entertaining at times.

[Kid Berwyn]

10. Swells.

[dalton99a]

12. +1

[Kid Berwyn]

13. Money

They want to squeeze every penny out of the ground. And they don’t care who dies in the process, or how many, as long as it’s not them or their bodyguards.

[C_U_L8R]

15. Does the FTC have any say on deals like this?