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Should You Care That This Saudi Prince Now Owns 5% of Twitter?

NEW YORK (TheStreet) -- Even with the recent CEO shakeup, one Saudi prince has placed his vote of confidence in Twitter (TWTR - Get Report) by purchasing enough shares to give him a 5% stake in the company.

Saudi Prince Alwaleed Bin Talal has purchased almost 35 million shares of the microblogging firm, meaning that he owns 5.17% of the shares outstanding. The move makes him the second biggest investor in Twitter behind its co-founder, Evan Williams, who owns 6.9% of the shares outstanding.

Should this news affect your position on the company? Yes.

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