In a significant development, Elon Musk’s social media platform X, formerly known as Twitter, has made public its list of investors. This revelation comes in compliance with a US federal judge’s order, following allegations by former Twitter employees regarding unpaid fees after Musk’s $44 billion acquisition of the platform in October 2022.
Who Are the Investors in X?
The list features nearly 100 entities, showcasing some of Silicon Valley’s most prominent venture capitalists, entrepreneurs, and multiple funds controlled by individual investors. Notable names include Twitter’s founder and former CEO Jack Dorsey, Saudi Prince Al Waleed Bin Talal Al Saud, hip-hop icon Sean “Diddy” Combs, and the renowned venture capital firm Andreessen Horowitz. Other significant investors include the Italian financial services company UnipolSai S.P.A. and 8VC, a venture capital firm co-founded by Joe Lonsdale, who also co-founded the data analysis platform Palantir.
Why Was the Investor List Released?
The disclosure of X’s shareholder list follows a legal battle where former Twitter employees accused the company of violating their arbitration agreements by withholding fees after the acquisition by Musk. Attorneys representing the Reporters Committee for Freedom of the Press filed a motion in July 2023 to unseal the records, supporting independent tech journalist Jacob Silverman.
In response, US District Judge Susan Illston ordered X to submit the list and disclose all the investors. The ruling highlighted the public’s right to know who holds stakes in a company that plays such a critical role in shaping public discourse worldwide.
“People have a right to know who owns a company with such a prominent role in shaping public discourse, both in the United States and around the world,” Silverman noted. This ruling comes in the wake of Musk’s public endorsement of former president Donald Trump, further emphasizing the significance of transparency in ownership.
