In a significant legal development, a federal judge ordered Elon Musk’s X, formerly known as Twitter, to disclose its shareholder list, providing a rare glimpse into the financial backers of Musk’s $44 billion acquisition of the platform.
The court filing, unsealed on Tuesday, reveals a roster of nearly 100 investors, including some of Silicon Valley’s biggest names and unexpected stakeholders like hip-hop mogul Sean “Diddy” Combs.
Prominent investors featured in the document include Andreessen Horowitz, Saudi Prince Alwaleed bin Talal, and Twitter co-founder Jack Dorsey.
However, the filing also highlights lesser-known entities such as UnipolSai S.P.A., an Italian financial services firm.
While many of these names had surfaced in previous reports, this marks the first time X has publicly detailed its ownership structure.
The unsealing of this information stems from a lawsuit filed by former Twitter employees who allege that Musk violated their arbitration agreements by withholding fees post-acquisition.
The move to make these records public was championed by the Reporters Committee for Freedom of the Press on behalf of journalist Jacob Silverman, emphasizing the public’s right to know the ownership of a platform so integral to global discourse.
Despite Musk’s high-profile takeover, X’s financial performance under his leadership has reportedly faltered. Fidelity’s recent assessment of its stake in X showed a sharp decline in value, reflecting broader market concerns.
Additionally, X’s legal battles have extended to a lawsuit against the World Federation of Advertisers, accusing the group of damaging its ad revenue—a claim disputed by the organization.
In the face of these challenges, Musk has turned his attention to the upcoming presidential election, leveraging the platform to engage with a right-wing audience.
He recently announced that downloads of the X app had reached an “all-time high,” positioning the platform as a key player in shaping the online discourse during the election season.
However, questions remain about X’s long-term viability as it navigates legal hurdles and business market skepticism.
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