# Key Twitter investorPrince Alwaleed rejects Elon Musk's bid to buy the company | Tech News (HT Tech) > Saudi Arabia’s Prince Alwaleed bin Talal rejected Elon Musk’s bid to acquire Twitter Inc. for $54.20 per share. # Key Twitter investor Prince Alwaleed rejects Elon Musk's bid to buy the company ## Saudi Arabia’s Prince Alwaleed bin Talal rejected Elon Musk’s bid to acquire Twitter Inc. for $54.20 per share. Aug 22 2022, 11:42 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Prince Alwaleed bin Talal rejects Elon Musk’s bid to acquire Twitter!](https://images.hindustantimes.com/tech/img/2022/04/15/1600x900/alwaleed-bin-talal_2c5ba13e-6d85-11e5-a9e2-597b09296f58_1650012255642.jpg) Prince Alwaleed bin Talal rejects Elon Musk’s bid to acquire Twitter! (AP) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Saudi Arabia’s Prince Alwaleed bin Talal rejected Elon Musk’s bid to acquire Twitter Inc. for $54.20 per share, saying the deal doesn’t “come close to the intrinsic value” of the popular social media platform. The move prompted a rapid retort from Musk, who asked how many shares the investor held in Twitter, and what are the Kingdom’s view on freedom of speech for journalists. A 2015 regulatory filing showed that Alwaleed, along with his Kingdom Holding Company, owned a 5.2% stake in the social media platform. The Bloomberg Billionaires Index estimates the position is now about 4.4% of Twitter. Also read click here. Alwaleed is the richest individual in Saudia Arabia, with a $16.5 billion fortune, the Bloomberg Billionaires Index shows. Most of his wealth is derived from his 95% ownership of Kingdom Holding Company. It’s been a tumultuous few years for the prince, who was detained at the Ritz-Carlton hotel in Riyadh for nearly three months in late 2017 along with other Saudi princes in an anti-corruption sweep started by the de facto Saudi ruler and Crown Prince Mohammed Bin Salman, which was largely seen as a move to consolidate power. Twitter’s shares fluctuated on Thursday as investors weighed news of the offer. The stock was down 2% to $44.93 at 2:59 p.m. in New York. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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