Kingdom Holding Acquires Prince Alwaleed’s Breakthrough Energy Ventures Stake For US$68 Million
Breakthrough Energy Ventures, which is led by Microsoft co-founder Bill Gates, invests in sectors like green hydrogen, nuclear fusion, and carbon capture.
Saudi Arabia-based investment firm Kingdom Holding Company (KHC) has signed a share purchase agreement to acquire a stake in the US-based clean-tech investment firm Breakthrough Energy Ventures (BEV) from its Chairman, HRH Prince Alwaleed bin Talal Al Saud, for SAR255 million (US$68 million), according to a disclosure on the Saudi Exchange, Tadawul.
The deal transfers the BEV stake from Prince Alwaleed’s personal portfolio to KHC, thus giving its shareholders exposure to investments in clean technologies. BEV, which is led by Microsoft co-founder Bill Gates, invests in sectors like green hydrogen, nuclear fusion, and carbon capture.
The transaction is part of KHC’s broader strategy to consolidate the prince’s technology-related holdings under the company. This follows the transfer of his stake in the social media platform X to KHC in 2022, as well as the firm’s acquisition of a stake in Elon Musk's artificial intelligence (AI) firm xAI in 2024.
The BEV stake was valued at SAR367.5 million ($98 million) in KHC’s audited 2024 financial statements, which indicates that the transaction was executed at a 30 percent discount. The company said it will finance the acquisition using internal resources.
