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The Pan-Arabia Enquirer

Prince Alwaleed insists Twitter IPO windfall won’t change him


Prince Alwaleed insists Twitter IPO windfall won’t change him

Multibillionaire owner of customised 747 says he won’t let new wealth go to his head

RIYADH: Prince Alwaleed Bin Talal has insisted that his new fortune following the floatation of Twitter won’t change him as a person.

Two years ago the Saudi multibillionaire invested $300 million in the microblogging platform, an investment that is likely to be worth significantly more after an IPO that has subsequently valued Twitter at around $25 billion.

“Sure, it’s incredible that from this tiny little seed I planted a tree may now have grown, but I’m not going to let this new wealth affect my life at all,” said Alwaleed, who flies around the world sat on a gold throne in a customised private Boeing 747.

Despite the sudden increase to his assets, Alwaleed admitted he has no plans to move from his home, a modest 250,000 square metre 317-room palace featuring three swimming pools, four kitchens and a 45-seater cinema.

“I might give it a new lick of paint here and there, you know, perhaps install another cinema or wing or something, but I’m not going to be rushing out and getting myself a fancy new sportscar or anything,” said the man who has ordered a new 173-meter $500 million superyacht, which would sit alongside his current 85.9 metre boat.

“I’m sure it’s easy to let the money send you into a spin, but I’m definitely going to try to keep a level head,” added Alwaleed, who earlier this year said he would pursue legal action against Forbes magazine over claims it underestimated his wealth by $9.6 billion, putting him in 26th place in its annual Rich List rather than in 10th.

“But really, it’s just nice to have that security for my family.”

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