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Saudi Prince Invests in Twitter

Twitter- the massively popular microblogging and social networking platform, now has a new multi-billionaire stakeholder.

According to reports, the new investor in the company is a Saudi prince boasting a highly impressive investment record.

Prince Al-waleed bin Talal, the new stakeholder in Twitter, happens to be the nephew of Saudi Arabia's King Abdullah. He has net assets of around $19.6 billion, as estimated by Forbes magazine.

The new investor reportedly acquired shares in the social networking site after prolonged negotiations through his Kingdom Holding Company.

"Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," stated bin Talal, according to a report by The Telegraph.

Twitter officials, however, refrained from providing details of the deal. The site currently enjoys over 100 million registered users, who on average post about one billion tweets every week.

Apart from Alwaleed, another major stakeholder in Twitter is Yuri Milner- the well known billionaire from Russia who also happens to be the owner of Digital Sky Technologies.