Elon Musk Has Saudi Problem, Twitter Shareholder Prince Al Waleed Says No to Sale (UPDATE: Musk Responds)
Elon Musk is the largest shareholder of Twitter, owning 9.5% of shares. The second-highest shareholder is Saudi Prince Al Waleed bin Talal Al Saud. He owns five percent combining his personal holdings along with those held by his investment company Kingdom Holding Company. Al Waleed has already rejected Twitter outright.
Yes. Prior to Musk, the largest shareholder of a "public platform" was a member of the Saudi royal family. A public platform at the center of a free speech debate in America. The liberal elite has a problem with Musk and says HE'S bad for the democracy. Not so much a Saudi Prince. If you hadn't connected those dots yet, there you go.
I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.
Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.https://t.co/Jty05oJUTkpic.twitter.com/XpNHUAL6UX
— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022
However, according to The Post Millennial, there are reports Saudi Prince Al Waleed bin Talal Al Saud sold his shares prior to this. So this could just be saber-rattling. Or Saudi Prince Al Waleed bin Talal Al Saud was hoping for some retweets.
Not that Twitter was going to agree to a sale today. Or ever. Experts point to Twitter's stock being at $70 a share a year ago, and that Musk's offer is too low. Experts agree with Saudi Prince Al Waleed bin Talal Al Saud that Twitter has "growth" prospects. What those prospects are, who knows? Musk and Morgan Stanley will be busy convincing other board members there aren't any.
I just need everyone to appreciate the fact that, at one point, the three largest shareholders of Twitter (aka "the public square") were Blackrock, the Vanguard Group, and the Saudi Royal Family. But liberals say Elon Musk is the bad guy.
UPDATE: Musk responded via Twitter.
Interesting. Just two questions, if I may.
How much of Twitter does the Kingdom own, directly & indirectly?
What are the Kingdom’s views on journalistic freedom of speech?
— Elon Musk (@elonmusk) April 14, 2022
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