How Saudi Royal, Mocked By Elon Musk, Ended Up Backing Him
NDTV
It's unclear exactly how Musk swayed the Saudi billionaire - initially the Tesla co-founder mocked the Saudi royal - but sticking with the company is in keeping with Alwaleed's tendency to hold tight on high-profile bets through ups and downs.
It took less than three weeks for Prince Alwaleed bin Talal Al Saud to flip from outraged investor to crucial supporter of Elon Musk's $44 billion takeover of Twitter Inc. Great to connect with you my "new" friend @elonmusk????????I believe you will be an excellent leader for @Twitter to propel & maximise its great potential@Kingdom_KHC & I look forward to roll our ~$1.9bn in the “new” @Twitter and join you on this exciting journey
"Great to connect with you my `new' friend @elonmusk," Alwaleed tweeted Thursday, shortly after a Securities and Exchange Commission filing showed he agreed to roll his entire $1.9 billion stake into a privatized Twitter. When Musk announced his $54.20-per-share offer in April, Alwaleed used the social-media platform to reject the offer, saying it didn't "come close" to the company's intrinsic value.
It's unclear exactly how Musk swayed the Saudi billionaire - initially the Tesla co-founder mocked the Saudi royal - but sticking with the company is in keeping with Alwaleed's tendency to hold tight on high-profile bets through ups and downs.
