The Saudis are now the second largest investors in Twitter after Musk. US Senator Chris Murphy has raised concerns about the Saudis’ stake in the company, calling for a federal investigation. Murphy is a senior member of the Senate’s Foreign Relations Committee and a vocal critic of Saudi Arabia.

According to a recent report, the Saudi Kingdom Holding Company owns around 16 percent of Twitter. It is estimated that Saudi Arabian Prince Alwaleed Bin Talal, the company’s chairman, will retain a portion of the company’s shares. If he does indeed remain as Twitter’s’second largest investor’, it will represent over 4 percent of the company’s market cap. Furthermore, the Saudi sovereign wealth fund, headed by Crown Prince Mohammed bin Salman, owns 16.9% of Kingdom Holding.

Twitter had struggled to expand its user base, and was not profitable for years. Musk’s decision to make Twitter private, however, has been criticized by many. Despite the criticism, Musk defended the deal by criticizing Saudi Arabia’s censorship and lack of freedom of speech. He said the investment aligns with his ‘long-term investment strategy’.

Musk’s takeover of Twitter has sparked concerns among lawmakers, and the Saudis are now the’second largest investors’ in the company after Musk’s billions. The news of the Saudis’ ownership has led to several developments within the company. First, the Saudis have invested about $500 million in the company, and the Saudis have also rolled over a portion of their current Twitter shares.