SAUDI billionaire Prince Alwaleed bin Talal, an investor in some of the world’s top companies, has bought a stake in Twitter for $300 million (€226m), gaining another foothold in the global media industry.

Millennium & Copthorne Hotels Plc, owner of the Biltmore in Los Angeles, and Saudi Prince Alwaleed bin Talal, the world’s fourth-richest man, agreed to sell the unprofitable Plaza on New York’s Fifth Avenue for $675 million.