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Prince Walid bin Talal of Saudi Arabia, who owns 95 percent of Kingdom Holding, recently announced that he invested $300 million in the popular social media site Twitter.

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According to reports, Prince Walid’s purchase was part of a strategy “to invest in promising, high-growth businesses with a global impact.”

Twitter has been increasingly popular in the Arab world, where it was credited with playing a role in the recent social uprisings across North Africa and the Persian Gulf. Arabic-language messaging is the fastest-growing segment on Twitter, according to the data intelligence company Semiocast.

Read more at the New York Times.

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