Twitter founder Biz Stone and Pay Pal founder Max Levchin were among those supporting reform.
It is not clear whether Alwaleed would be buying shares from Twitter cofounders Evan Williams or Biz Stone.
FORBES: Saudi Billionaire Alwaleed Reportedly Interested In Twitter Stake
Larry Summers, Mary Meeker and Biz Stone all recently joined venture capital firms.
In an e-mail to CNN.com, Twitter co-founder Biz Stone said that incident is not related to Thursday's security breach.
Goldman previously worked with Twitter co-founders Evan Williams and Biz Stone on Blogger, before the company was bought by Google.
Now, we can add Twitter co-founder Biz Stone to the burgeoning list of high-profile names to drink the venture capital Kool-Aid.
Twitter co-founder Biz Stone said Twitter users were the first to alert others last summer after an earthquake hit Southern California.
Twitter co-founder Biz Stone is leaving his full-time post at Twitter to start a new venture, Obvious Corporation, with his Twitter cohort.
FORBES: Biz Stone Steps Down From Twitter, Re-Starts Obvious Corp.
Williams, along with former Google employee Biz Stone and investor Jack Dorsey set out to build a podcasting platform called Odeo, but after Apple launched iTunes, the company quickly became obsolete.
But Biz Stone, co-founder of Twitter, said he and others knew that the service could have wide-reaching effects early on, when the San-Francisco, California-based company used it to communicate during earthquakes.
"This was not a hack on the Twitter service, it was a personal attack followed by the theft of private company documents, " Twitter co-founder Biz Stone writes on the company's official blog.
Five of them will be directed by already selected notables: actress Eva Longoria, actor Jamie Foxx, fashion designer Georgina Chapman, musician James Murphy of LCD Soundsystem and Biz Stone, the co-founder of Twitter.
Mr. Costolo has been credited with carefully managing the exits of two of the company's co-founders: Evan Williams, who was Twitter CEO between 2008 and last fall, and Biz Stone, Twitter's evangelist and spokesman on talk-show circuits.
What do Twitter co-founders Jack Dorsey and Christopher "Biz" Stone have in common with Thomas Edison?
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