August 22, 2024 12:56 PM
X’s investor list includes approximately 100 entities, including some of Silicon Valley’s most prominent venture capitalists and entrepreneurs.
Elon Musk’s social media platform X (formerly Twitter) has published a list of shareholders who backed Musk’s $44 billion acquisition of the platform in October 2022, The Washington Post reported. The paper added that this was the result of a US federal court order.
In 2023, a former Twitter employee filed a lawsuit alleging that X had violated an arbitration agreement by not paying him fees after Elon Musk acquired the company, and X had disclosed its investor list.
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Who were X’s shareholders?
The list of about 100 companies includes some of Silicon Valley’s most prominent venture capitalists and entrepreneurs, as well as multiple funds managed by the same individuals.
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These include Twitter founder and former CEO Jack Dorsey, Saudi Arabian Prince Waleed bin Talal Al Saud, hip-hop mogul Sean “Diddy” Combs, venture capital firm Andreessen Horowitz, Italian financial services company Unipolsai SPA, and 8VC, the venture firm co-founded by Joe Lonsdale, co-founder of data analytics platform Palantir.
Why did Company X make its shareholder register public?
Former Twitter employees alleged that after Elon Musk acquired the company in 2023, Company X violated the arbitration agreement by not paying arbitration fees.
So lawyers representing the nonprofit group Reporters Committee for Freedom of the Press filed a motion seeking unsealing the records in July on behalf of independent technology journalist Jacob Silverman.
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In response, U.S. District Judge Susan Illston on Tuesday ordered Company X to submit a list and disclose all of its investors.
“People have a right to know who owns companies that play such a significant role in shaping public discourse, both in the US and globally,” Silverman wrote, after Musk personally endorsed former President Donald Trump and gave an interview with him on the platform.
News / Business / Elon Musk’s X releases investor list following US court order
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