Saudi Prince Who 'Rejected' Elon Musk's Twitter Offer Sold All Shares in 2019
Records show Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud dumped all stock
The Saudi prince, who publicly "rejected" Elon Musk's $43 billion offer to buy Twitter, sold off all of his shares in the company in 2019, records show.
Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud announced on Thursday that he would "reject this offer," claiming to be "one of the largest & long-term shareholders of Twitter."
On face value, the statement appeared to throw a spanner in the works of Musk's plan.
However, records show that the prince dumped all of his stock in 2019 shortly after he was arrested in 2017.
The prince's arrest had been decreed by the monarch, King Salman, and he was held under house arrest at the Riyadh Ritz-Carlton.
Former billionaire Alwaleed was released from detention in late January 2018, nearly three months after his arrest, after agreeing to purge the majority of his wealth.
The prince still owns 95 percent of Kingdom Holdings Company, which continues to hold stock in Twitter, however, records show he sold all his personal shares in 2019.
Following Prince Alwaleed's rejection of Elon Musk's offer, Zerohedge posted records on Twitter that appear to show that the Saudi royal has not held any personal shares for years.
Dear @Alwaleed_Talal this may come as a shock to you, but you sold all your Twitter shares in 2019, not long after were were put under Ritz Carlton hotel arrest. cc: @elonmusk https://t.co/qJn4qwk6O0 pic.twitter.com/15muAHYkdR— zerohedge (@zerohedge) April 14, 2022
Also highlighted was the fact that the selling of Prince Alwaleed's stock took place shortly after he was released from detention in the Riyadh Ritz Carlton.
According to The Guardian, he had spent nearly three months there as part of an "anti-corruption sweep."
At the time, The Guardian reported that many of the other detainees had been released after having "traded cash, real estate and other assets for their freedom."
Prince Alwaleed first purchased Twitter shares in 2011, before the social media company had gained much international traction.
In 2015, he and the KHC increased their ownership of Twitter to 5.2 percent.
Elon Musk responded to Alwaleed's "rejection" on Twitter, saying:
"Interesting. Just two questions, if I may.
"How much of Twitter does the Kingdom own, directly & indirectly?
"What are the Kingdom’s views on journalistic freedom of speech?"
Interesting. Just two questions, if I may.— Elon Musk (@elonmusk) April 14, 2022
How much of Twitter does the Kingdom own, directly & indirectly?
What are the Kingdom’s views on journalistic freedom of speech?
The prince didn't answer Musk's questions.