Saudi Arabian Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and his investment company, Kingdom Holding, have reportedly invested $300 million on Twitter.

The deal, first reported on Bloomberg and officially announced in a press statement, reads in part:

“This investment was the result of several months of negotiations and comprehensive due diligence and represents a strategic stake in Twitter.”

Prince Alwaleed is reported to be worth US $19.6 billion making him th 26th richest person in the world according to Forbes. The company also has a stake on News Corp.’s among other investments on media properties in the Arab world. Alwaleed  also bought a five percent stake in Apple in 1997 for US $115 million.