Elon Musk’s X Shareholders Revealed: Saudi Prince, VCs, Diddy, and Jack Dorsey

A recent court filing unveiled the 100 investors in Elon Musk's X, shedding light on some prominent names in the list. The disclosure came after a judge ordered X Holdings to unseal its list of shareholders following a motion filed by a journalism nonprofit, citing public interest in the investor details.

Notable Investors in X

The list of shareholders in Elon Musk's X includes major players in the industry such as Andreessen Horowitz, Fidelity, and Sequoia. Additionally, the list features high-profile names like Saudi Prince Alwaleed bin Talal al Saud, American rapper Sean "Diddy" Combs, and X's founder and former CEO Jack Dorsey.

Court Order and Disclosure

A federal judge mandated X Holdings to reveal the names of its investors, which was made public by The Washington Post. This move followed a motion filed by the Reporters Committee for Freedom of the Press, representing independent technology journalist Jacob Silverman, emphasizing the importance of transparency surrounding X's shareholder information.

Challenges and Responses

Despite the disclosure, X did not immediately comment on the matter. The company, formerly known as Twitter, was acquired by Musk for $44 billion in late 2022, with funding sourced from various banks. Legal disputes arose from former Twitter employees alleging non-payment post-acquisition.

Representatives of X raised concerns over the potential negative impact of revealing investor information, citing privacy expectations and competitive vulnerabilities. Following Musk's ownership, X witnessed a decline in advertising revenue and significant operational changes, including staff layoffs and policy adjustments.

In conclusion, the revelation of X's shareholders underscores the complexities and challenges faced by the platform under Musk's leadership, impacting its financial performance and operational dynamics.

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By: shubhangigoel@insider.com (Shubhangi Goel)
Title: Elon Musk’s X Shareholders Revealed: Saudi Prince, VCs, Diddy, and Jack Dorsey
Sourced From: www.businessinsider.com/court-filing-unmasked-investors-elon-musk-x-twitter-saudi-dorsey-2024-8
Published Date: Thu, 22 Aug 2024 06:37:18 +0000