Saudi Arabia's Prince Al Waleed bin Talal and his firm Kingdom Holding have doubled their stake in Twitter to own more than five percent of the microblogging company, Reuters reports.
Prince Alwaleed Bin Talal Alsaud, the richest man in Saudi Arabia and Forbes' 34th richest man in the world, paid $50m and now owns 30,100,078 Twitter shares.
By comparison, Twitter cofounder and newly reappointed CEO Jack Dorsey owns about 22.2 million shares while cofounder Evan Williams is the largest individual shareholder with nearly 57 million of the 472 million shares, or a 12% stake, according to Forbes.
The prince and Kingdom Holding first invested $300m in Twitter in 2011.
Prince Al Waleed owns 95 per cent of Kingdom Holding.
In addition to his investment in Twitter, Al Waleed also has shares in Citigroup, Four Seasons Hotels & Resorts, Movenpick Hotels & Resorts and Fairmont Raffles Holding, and hotel real estate such as the Hotel George V in Paris and the Savoy Hotel in London.
In July of this year, Al Waleed announced that he would be giving away his $32 billion fortune to charitable causes.
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