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A court filing unmasked the 100 investors in Elon Musk's X: a Saudi prince, major VCs, Diddy, and Jack Dorsey
By Shubhangi Goel,
1 day ago
Elon Musk started buying Twitter shares in January 2022.
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A judge ordered X Holdings to unseal its list of shareholders, which revealed notable investors.
The list includes Andreessen Horowitz, Fidelity, Sequoia, Saudi Prince Alwaleed, and Diddy.
The motion was filed by a journalism nonprofit, arguing public interest in X's investor details.
Elon Musk's X just had to give up the names of all its investors — and there are some notable names on the list.
A federal judge ordered the social-media platform to unseal the list of shareholders of X Holdings on Tuesday after a journalism nonprofit filed a motion in July to view the records.
It includes some of Silicon Valley's biggest names, such as Andreessen Horowitz and Sequoia, alongside asset managers like Fidelity. Wealthy people also invested, including Saudi Prince Alwaleed bin Talal bin Abdulaziz Al Saud, the American rapper Sean "Diddy" Combs, and Jack Dorsey, X's founder and former CEO.
X did not immediately respond to a request for comment sent outside regular working hours.
Musk bought X , then a public company known as Twitter, for $44 billion in late 2022. He funded his purchase by borrowing from banks including Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and Société Générale.
Attorneys for the nonprofit Reporters Committee for Freedom of the Press filed a motion in July asking the court to unseal the records, on behalf of the independent technology journalist Jacob Silverman.
The nonprofit said that revealing the list of investors was in the public's best interest since X is an important platform for discourse.
Representatives of X disputed the motion, writing in a court document: "Individuals and entities investing and taking an ownership interest in a private corporation such as X Holdings expect that such information will remain private."
Lawyers also said that the disclosure could undermine X's competitive position and give its prospective partners an unfair advantage.
X, which makes money from premium subscriptions and advertising, saw its advertising revenue plummet after Musk's takeover, with large advertisers fleeing the platform.
Musk also fired many sales and safety staffers and brought back previously banned accounts.
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