Saudi Prince Who Rejected Elon Musk’s Twitter Offer, Sold Shares in 2019

Stripe, a global payment technology for businesses and marketplaces, has partnered with Twitter to launch the system of global crypto payouts on Thursday. Initially, Stripe would enable Twitter to pay a selected community of content creators with USD coins (USDC), Circle’s dollar-pegged stablecoin. Since 2010, Stripe has been helping many online businesses by facilitating programmable money payouts through its Global Payments and Treasury Network (GPTN). Now, Stripe provides assistance to its partnered platforms in converting their fiat into crypto payouts. Karan Sharma, Product Manager at Stripe wrote on blog: “While the ‘store of value’ aspects of cryptocurrencies typically receive the most attention, we view the prospect of ‘open-access global financial rails’ as being at least equally compelling. As a result, we’ve been exploring ways to use cryptocurrency-based platforms to unlock broader access.“ Multiple Payments Options For Recipients Since Polygon,a Layer 2 Ethereum-based blockchain, does faster transactions at low costs and possesses “broad wallet compatibility”,Stripe Connect chose to use it to initiate the crypto payouts. The creators can earn their crypto payouts from Twitter’s Ticketed Spaces and Super Follows via Connect, Stripe’s payment platform. Creators will have to sign up and pass through the Stripe’s Know Your Customer (KYC) onboarding checks and manage their accounts on Connect. They can also track the payouts into their crypto wallets via Stripe Express App. Users can either hold the earned cryptos or exchange it into another currency via Ethereum. Recently in early April, Le Monde chose Stripe as a platform to support its digital subscriptions amidst its global users. Back in March, FTX partnered with Stripe to enable its users to purchase crypto with debit cards and Automated Clearing House (ACH) directly from the bank.
  • Twitter user @zerohedge provided documents indicating the sold out.
  • According to Tesla CEO, Twitter is “important to the functioning of democracy”.

Tesla CEO Elon Musk has pledged to battle for the “future of civilization” after making an outrageous $43 billion (£33 billion) offer to acquire Twitter. According to Tesla CEO Elon Musk, Twitter is “important to the functioning of democracy” who wants to take the social media network private. The board of Twitter prepared to battle the takeover bid by the world’s wealthiest man, while one of the company’s largest shareholders stated he was also opposed to Musk’s ambitions.

No Monetary Motive

Elon Musk, 50, asserted that he could afford the buyout but confessed that “I’m not sure that I will be able to acquire it.” Musk. He stated in Vancouver that Twitter’s “public square” should be protected not to make money from the investment.

Musk’s $43 billion offer to acquire Twitter was officially rejected by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. Despite having a 95% stake in the Kingdom Holdings Company, the prince sold all his shares on Twitter in 2019. As a result of Prince Alwaleed rejecting Elon Musk’s offer, Twitter user @zerohedge provided documents indicating that the Saudi royal has had no ownership in the company for years. Alwaleed’s stocks were sold immediately after his release from Riyadh Ritz Carlton’s incarceration.

Several other captives had been released at the time, according to The Guardian, who said that they had “sold their freedom for cash, real estate, and other valuables.” Before the company’s worldwide success, Prince Alwaleed acquired Twitter stock in 2011. He and the KHC gained 5.2 percent of Twitter’s stock in 2015.

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