January 25th, 2012
11:53 AM GMT
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(CNN) - One of the world’s most prominent businessmen, Prince Alwaleed bin Talal, Chairman of Kingdom Holding Company, surprised many by announcing a $300 million investment in Twitter last month. But he says it was a logical business decision for his company.

“Kingdom Holding is not new at all to the internet and tech arena,” he told CNN’s John Defterios. “We were the first to invest in Apple computers … the first to invest in Amazon and eBay.”

While some eyebrows were raised when the Saudi company announced it would invest in Twitter, given that the site has been instrumental in the Arab Spring, Prince Alwaleed denies the deal was politically motivated.

“It was a pure financial investment with economic objectives,” he said. “Politics has no ingredients whatsoever in that investment … the secure economic financial investment with expected huge returns to our company Kingdom Holding.”

Asked about the future of Apple he said that judgement is still out as to whether it could continue its success post Steve Jobs, but he was hopeful that it would.

“I believe that Steve Jobs’ genius is by establishing a company that could outlive him and continue with his path,” he said.

Filed under: BusinessGlobal Exchange

soundoff (12 Responses)
  1. Sharif

    And how do you explain your investments in Murdoch's NewsCorp and the Fox news ???

    January 25, 2012 at 2:30 pm |
  2. Bonnie Veranda

    I believe this is part of a ploy to gain a way into the hearts and minds of ordinary tweeters, that is to say simply that kingdom investments would like to find a way in to the average tweeter's need to expunge one's mental excrement and sniff that of another person's. To put it clearly and simply, this move makes it clear that something is afoot, that something has been done and is being done at this very moment, in an attempt to get inside of something that was previoously fortified, if not simply outside or exterior.

    January 25, 2012 at 3:06 pm |
  3. salim london algeria

    they way he talk down down, his body moving every where he cannot controle him self ..i think is using Coca cola.,, i want just to ask him from wher he make all this money..?the onswer is from oil.., Ok,,thats enuf..but the oil is not belonge to you Mr Coca cola..or to ur family ..the oil is belong to all saudi people..i sow alot of poverity in this rich oil country..Shame.

    January 25, 2012 at 3:11 pm |

    entirely,businessman don't discuss inside any business deal "officially or unofficially".
    to the contrary they will give quotation of millions or billions...

    Politically,its number one!! without connection no "deal"..

    January 25, 2012 at 3:17 pm |
  5. britney012345

    Gods children,... Please God return to The One !...

    January 25, 2012 at 3:32 pm |
  6. kenneth

    The revolution will soon come to Saudi Arabia and people like you will be the target, the money you have earned by plundering Saudi oil wealth.

    January 25, 2012 at 4:00 pm |
  7. R.J.

    How hard is it to censor twitter? I'm not accusing, I'm just asking. I don't tweet.

    January 25, 2012 at 4:42 pm |
  8. sameh

    very sad situation See the elephant is dying and die


    January 26, 2012 at 4:45 am |
  9. Greg Nazvanov MBA CFP PhD

    As all oil rich countries are dumping USD paying $300m to spend the left over US currency makes good sense http://inkom.com.au/blog/who-dumping-us-dollars

    January 26, 2012 at 2:48 pm |
  10. eman

    Beware of entry impaired Algulwowob hard horror


    January 26, 2012 at 10:55 pm |
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