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  1. ITV Report

In Profile: Prince Alwaleed bin Talal

Saudi Prince Alwaleed bin Talal Photo: Reuters/Stephanie McGehee

Prince Al-Waleed bin Talal is a member of the Saudi royal family and one of the world's richest men.

In March 2012, his personal wealth was estimated by Forbes to be $18bn (£11bn), placing him 29th on its list of the world's billionaires list.

As of January 2013, the 57-year-old -who is a nephew of Saudi Arabia's king - is listed as the 12th-richest man in the world with an estimated net worth of $28.7bn, according to the Bloomberg Billionaires Index.

The prince has a wide range of business interests and has stakes in some of the world's top companies such as Citigroup, Apple, Disney, News Corporation and Twitter as well as other technology and media companies.

Prince Al-Waleed is News Corporation's second biggest shareholder after Rupert Murdoch, owning 7 percent.

The Saudi billionaire with the chief executive of News Corporation Rupert Murdoch in 2011 Credit: Reuters

In December 2011, Al-Waleed made a $300m (£193m) investment in Twitter, securing him a stake estimated at 3.75% after "months of negotiations, according to the Guardian.

The timing of his investment was questioned because to the key role Twitter played during the Arab Spring as a tool to help activists organise protests.

Some also tweeted fears that Al-Waleed's purchase could negatively influence the micro-blogging site's strategy.

Prince Al-Waleed invested in Twitter in 2011 Credit: Twitter

At the time, the prince said: "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact".

The prince's wife, Princess Ameerah al-Taweel, is a keen Twitter user and has more than 580,000 followers on the site.

In the mid-1990s, Al-Waleed and Michael Jackson launched Kingdom Entertainment, a joint venture to develop movies, book and theme parks based on "family values".

However, this project was not as successful as hoped.

Michael Jackson and Prince Al-Waleed bin Talal pictured in 1996. Credit: Reuters/John Schults

The prince also owns the Savoy hotel in London, which he purchased in 2005 for an undisclosed amount.

London's famous Savoy hotel Credit: Press Association