Democratic Senator Concerned Over Saudi Financing In Musk’s Twitter Deal
- Date: 01-Nov-2022
- Source: Huffpost
- Sector:Financial Services
- Country:Saudi Arabia
Democratic Senator Concerned Over Saudi Financing In Musk’s Twitter Deal
Sen. Chris Murphy (D-Conn.) on Monday raised concerns about the “potential influence” the Kingdom of Saudi Arabia would have on Twitter’s operations after the Saudis and Qatar contributed financing to help Elon Musk complete his purchase of the social media company.
Prince Alwaleed bin Talal agreed to roll over $1.9 billion worth of Twitter shares through his Kingdom Holding Company to Musk’s new private company, making him the second largest investor in Twitter. Saudi Arabia’s sovereign wealth fund, chaired by Crown Prince Mohammed bin Salman, owns nearly 17% of Kingdom Holding, according to Reuters.
Meanwhile, Qatar contributed $375 million for the financing of Musk’s Twitter purchase.
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