Elon Musk’s X, the company that acquired Twitter and took it private under its new name, recently faced a court order to disclose its full list of shareholders as of June 2023. This revelation provided valuable insights into the prominent figures and organizations supporting Musk’s venture.
Among the well-known names in the tech industry that had already been linked to Musk’s efforts were venture capital firms Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital. Additionally, Oracle founder Larry Ellison and cryptocurrency company Binance were reported as backers of the acquisition.
However, there were some less widely known investors involved as well. One notable figure was Sean “Diddy” Combs, who invested through his own company, Sean Combs Capital. This investment had previously been reported by the Daily Mail. Another unexpected shareholder was Bill Ackman, the activist investor who gained attention for his campaign against activism at Ivy League schools. Ackman’s involvement came through the Pershing Square Foundation. Furthermore, 8VC, the venture capital firm co-founded by Palantir’s Joe Lonsdale, had ties to Russian oligarchs and also emerged as a shareholder.
Interestingly, some of the listed shareholders were already investors in Twitter prior to Musk’s takeover. Twitter co-founder Jack Dorsey and Saudi Prince Alwaleed bin Talal al Saud reportedly converted their Twitter shares into stakes in the newly formed X company.
The court filing containing the list of shareholders was dated June 9, 2023, but it was unsealed recently in response to a motion from the Reporters Committee for Freedom of the Press on behalf of independent journalist Jacob Silverman.
In a blog post where he published the full list of investors, Silverman acknowledged that many of Musk’s backers were already known and that the list did not include ownership amounts. Nonetheless, he highlighted the significance of this disclosure, stating that it provides a “great starting point for journalists, researchers, regulators, activists, and anyone else who wants to know what’s going on behind the scenes of this important company.”
This release of information sheds light on the extensive support behind Musk’s acquisition of Twitter and underscores the influential figures and organizations involved in this venture. The disclosed list of shareholders serves as a valuable resource for those interested in understanding the dynamics and stakeholders of this significant company.