Feeds

Saudi prince doubles AOL stake to $2bn

'Anchor of the industry' gets more wonga

  • alert
  • submit to reddit

Top three mobile application threats

Royal dotcom stock splurger Prince Alwaleed Bin Talal is at it again - this time he's doubling his stake in AOL to $2 billion.

The nephew of Saudi Arabia's King Fahd described the ISP - whose chairman recently gave $8 million to homophobes by mistake - as the "anchor of the industry".

"America Online is the number one 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," the businessman told Reuters.

The Prince is a keen investor in cyberstocks - he has investments in six Internet companies. These include $100 million tied up in e-bidding company Priceline.com, which is due to release its Q3 results today and is expected to record a net loss of about a penny a share.

He said the AOL investment would be gradual and would depend on the price.

In April the Prince said he would be cautious about investing in Internet companies, and would not lose his head over the dotcom frenzy. Last year, Forbes magazine named him the richest businessman outside the US. ®

Related Stories

Saudi prince doubles stake in e-bid biz to $100m
Wall Street savages Priceline.com
AOL-MSN hype war starts
Internet 'bigger than industrial revolution'
Steve Case funds homophobes - by mistake

Top three mobile application threats

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.