With his battle with Megyn Kelly and Fox News still raging, Donald Trump got into another spat on Thursday—this time with an ultra-wealthy Saudi prince who helped him out, financially, twice in the nineteen-nineties, when some of Trump’s businesses were struggling.

On Thursday morning, as part of his daily online blitzkrieg against his enemies, Trump retweeted a picture that appears to show Kelly with Prince Alwaleed bin Talal, a Saudi billionaire who owns stakes in a number of American companies, including 21st Century Fox, the corporate parent of Fox News. The caption superimposed on the picture reads, in part, “Most people don’t know that the co-owner of Fox News is Prince Al-Waleed of Saudi Arabia here with his sister and with host Mygan Kelly.”

Unfortunately for Trump, there were at least three problems with the message he retweeted. First, the picture is likely a fake—it circulated last summer, prompting the fact-checking site Snopes.com to conclude that it had been doctored. Second, the claim that bin Talal is a “co-owner” of Fox News is misleading. And third, the Prince isn’t the sort of fellow to sit back and ignore such antics. On Thursday afternoon, he posted a tweet of his own, in English, which read, “Trump:You base your statements on photoshopped pics?I bailed you out twice;a 3rd time,maybe?”

At first, I thought this message might be another hoax. However, a former political analyst at the Saudi Embassy, Fahad Nazer, contacted me to point out that it had come from bin Talal’s verified Twitter account. Plus, this isn’t the first time that bin Talal, who is a nephew of the late King Abdullah, has tangled with Trump on Twitter. In December, after Trump called for a ban on Muslims entering the United States, the Prince tweeted, “You are a disgrace not only to the GOP but to all America. Withdraw from the U.S presidential race as you will never win.” Trump fired back: “Dopey Prince @Alwaleed_Talal wants to control our U.S. politicians with daddy’s money. Can’t do it when I get elected. #Trump2016.”

As bin Talal’s latest dig at Trump suggests, the two have a tangled past, stemming from the Prince’s history as an investor. According to Forbes magazine, he is the richest individual in the Arab world, with a net worth of more than seventeen billion dollars. On Wall Street, he is known for buying beaten-down stocks and holding onto them for a long time, and for being a passive investor. During the early nineties, he bought into News Corporation, Rupert Murdoch’s company. He is still the second-biggest investor, behind Murdoch, in 21st Century Fox, which was split off from News Corp. a couple of years ago (but to describe him, as the doctored image did, as the “co-owner” of Fox News is a big stretch). He also owns stakes in Apple, Disney, Citigroup, and Twitter.

This latest tweet battle with Trump refers to the Prince’s investments in troubled Trump properties. The first of these transactions took place in 1991, when, according to Businessweek, bin Talal bought Trump’s huge yacht the Trump Princess from creditors, for eighteen million dollars. At the time, Trump’s Atlantic City casinos were heavily indebted; he also put his airline, the Trump Shuttle, up for sale.

The second deal came in 1995, when bin Talal and a partner, a Singapore hotels company, paid hundreds of millions of dollars to take control of The Plaza, on Fifth Avenue, from Trump. A Times story at the time said that the buyers had agreed to “pay part, or all, of Mr. Trump’s $300 million mortgage on the hotel, guarantee interest payments on Mr. Trump’s Plaza debt and spend $28 million to renovate part of the hotel.” Trump, the article said, was “under heavy pressure because of more than $115 million of guarantees he has given on the Trump Organization’s debt, and because of his recently announced attempt to raise $250 million to expand his casino investments.”

As far as we know, Trump’s finances are much sounder now than they were back then, and he is in no need, as bin Talal’s taunt suggested, of a third infusion of cash. Still, the gibe is a reminder that even though, so far, Trump’s G.O.P. rivals have struggled to make much capital out of his somewhat checkered business history, there are others who are more than willing to bring it up.