Elon Musk’s X Corp. has recently disclosed a list of shareholders for its parent company after a federal court forced its hand. This move comes as a result of a lawsuit filed by former Twitter employees accusing Musk of violating their arbitration agreements. The unsealed document reveals nearly 100 entities with a stake in the company, including well-known names such as Sean “Diddy” Combs, Bill Ackman, Larry Ellison, and Marc Andreessen.
The disclosure provides insight into the investors who funded Musk’s $44 billion purchase of Twitter, a social media platform known for its international reach and influence as a global town square. Among the investors listed are Saudi Prince Alwaleed bin Talal al Saud, his investment vehicle Kingdom Holding Company, and Twitter founder Jack Dorsey.
X Corp. initially challenged the requirement to publicly share the names of its stakeholders in the case. However, U.S. District Judge Susan Illston found that there was no sensitive information or trade secrets in the disclosure, which had been filed under seal in June. The court emphasized the public interest in understanding the financial motives that shape free speech on a widely-used social media platform.
One of the notable entertainment figures on the list is Sean Combs Capital, linked to Sean “Diddy” Combs, who has faced legal challenges in recent years. The disclosure does not specify the amount Combs invested in X Corp. Since his involvement with the site in 2022, he has been embroiled in lawsuits alleging sexual assault and battery, as well as a federal investigation for sex trafficking.
The court’s order to file an unredacted version of the shareholder list highlights the importance of transparency in financial matters related to litigation. X Corp. found itself compelled to share the identities of its investors after moving the case to federal court, which has specific rules regarding disclosure of entities with a financial interest in the litigation.
Overall, the disclosure of X Corp.’s shareholders sheds light on the financial backing behind Elon Musk’s acquisition of Twitter and underscores the complexities of corporate ownership and investment in the digital age. The full list of shareholders provides a comprehensive overview of the diverse range of entities involved in this high-profile transaction.
