Techweb reported on May 6 that on Thursday local time, Prince Alwaleed bin Talal of Saudi Arabia, a personal social media twitter investor, said that Elon Musk would become an "excellent leader" of twitter. He agreed to invest $1.89 billion worth of twitter shares in Musk's acquisition of twitter rather than cash out.
Prince alwalid opposed Musk's takeover offer on April 14. At that time, he said that considering the growth prospects of twitter, Musk's proposed acquisition price was far from the intrinsic value of twitter.
But on Thursday, he tweeted that it was good to communicate with "new friend" musk.
In response to tweets from his investment vehicle Kingdom Holding and musk, Prince alwalid said: "I believe you will become an excellent leader of twitter, promote the development of Twitter and maximize its great potential."
He added: "Kingdom holdings and I look forward to investing our $1.9 billion in 'new' twitter and embarking on this exciting journey with you."
Kingdom holdings did not respond to requests for comment.
Although Prince alwalid owns shares in many companies such as Citigroup and LYFT, its investment company, Kingdom holdings, has been selling its hotel shares for the past 10 years.
At the end of last year, cascade investment company led by Bill Gates agreed to buy about half of the shares held by Prince alwalid for $2.21 billion, thus gaining control of the four seasons hotel.