Freshly minted Twitter CEO Jack Dorsey apparently has at least one big fan in the Middle East.
In a filing with the U.S. Securities and Exchange Commission today, HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud revealed that he now owns 5.17 percent of Twitter’s stock, or 34,948,975 shares.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1817518,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"entrepreneur,","session":"A"}']Under SEC rules, when someone holds more than 5 percent of a company’s stock, they are required to disclose that they have become a “beneficial owner.” The Saudi prince was not listed as a beneficial owner as recently as March 2015, when Twitter’s proxy filing listed all such parties.
It’s unclear exactly how much the Saudi prince owned previously. However, in 2011, he invested $300 million to buy shares of the company from employees. At the time, his ownership was estimated to be about 3 percent.
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