A list of the company’s major investors was made public via regulatory filings as Elon Musk acquired control of Twitter. The Kingdom Holding Company of Saudi Arabia and Prince Alwaleed bin Talal’s private office transferred over 35 million Twitter shares worth roughly $1.9 billion to become the “second-largest” shareholder in the new parent company. Jack Dorsey traded over 18 million shares.
According to regulatory records, the Saudi prince sold around $54.20 per share for over 35 million Twitter shares through the Kingdom Holding Co., amounting to about $1.9 billion.
With the aid of Wall Street bank loans and stockholders who consented to roll over their interest in the social media site in exchange for a part in the new private firm, Elon Musk acquired Twitter Inc. last week for $44 billion.
Consequently, Twitter, whose shares were delisted last week after almost ten years as a publicly traded business, has a new group of elite investors.
According to regulatory records, the Saudi prince sold about 35 million Twitter shares through the Kingdom Holding Co., amounting to approximately $1.9 billion at the transaction price of $54.20 per share. He was now the “second-largest investor” in the new parent business.
Alwaleed was one of the first to support Musk’s acquisition of Twitter, stating in May that Musk would be “a fantastic leader” for the social media business.
Just over 18 million shares, or roughly 2.4% of the publicly traded firm, were rolled over by the co-founder and former CEO of Twitter, valued at about $978 million at the time of the merger. As a result, he received shares of Elon Musk’s Twitter-controlling Holdings I Inc.
Dorsey bemoaned that Wall Street “possessed” the firm after Musk initially agreed to purchase Twitter in April and argued that going private was the “right” first move.
Investment Authority of Qatar
$375 million was given by a subsidiary of Qatar’s sovereign wealth fund in exchange for stock in Musk’s holding company.
Based on a loss in an index of shares of social media companies, the Bloomberg Billionaires Index calculates that the value of the stakes transferred from Twitter stock has decreased by nearly 40% since Musk made his offer in April.
