Saudi prince to invest an extra $1 bil in AOL

Cyberbiz Brief

If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout.

The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the firm posted its third quarter results.

“I am planning to invest another $1 billion in America Online,” he said. “The process has begun, and it will be gradual and will depend on the price. America Online is the No. 1 Internet company in the world and has a solid foundation and is making profit. And when the dust settles on the dot-com industry, America Online will be around.”

Al Waleed said in May he had invested $1 billion in 15 U.S. companies, including six Internet firms and two telecommunications ventures. He called AOL an anchor of the industry. He also holds investments in banks, hotels, broadcasting, airlines, computers, cars and real estate.

More Digital

  • trt world

    How Turkey’s TRT World Wants to Win Over U.S. Online Video Viewers (EXCLUSIVE)

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • CaptainSparkelz - Pocket.watch

    YouTube Creators CaptainSparklez, EvanTube Sign With Kid-Media Startup Pocket.watch

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • Peter Thiel

    Billionaire Peter Thiel Sells Majority of Facebook Stake, Pocketing $29 Million

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • Facebook

    Unsure if You Fell For Russia's Fake News? Facebook Will Tell You Soon

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • New Media old media shakeup

    Murdoch Sale Talks Underscore Digital's Effect in Disrupting Hollywood

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • Mosaic app

    Steven Soderbergh's 'Mosaic' App Is Now Available on Android

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

  • John Oliver Net Neutrality

    What the Repeal of Net Neutrality Will Mean for Hollywood

    If money talks, then Saudi Arabian billionaire Prince Al Waleed bin Talal said a lot Thursday as he predicted who would survive the ongoing dot-com shakeout. The prince, who already has invested over $1 billion in AOL, said he will double his stake in the world’s largest Internet service provider to $2 billion after the […]

More From Our Brands

Access exclusive content