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.
