Billionaire Saudi Prince Alwaleed bin Talal and his Kingdom Holding Co. have invested $300 million in the micro-blogging site Twitter.

He told The Associated Press he wanted to invest in a "promising, high-growth businesses with a global impact."

Kingdom Holding Co., based in Riyadh, is a major shareholder in Citigroup and holds stakes in several other major Western companies including Apple Inc. and News Corp.