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Saudi prince, hip-hop singer, former Twitter CEO: Musk's X-list of investors exposed

2024-08-22

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Phoenix Technology News, August 22, according to the Washington Post, a court document disclosed the list of investors of Elon Musk's company X, revealing the presence of many well-known investors and institutions. It is reported that the list includes 100 investors, including heavyweights such asSaudi prince, famous venture capital companies, hip-hop singer Diddy and Twitter founder Jack Dorsey.

According to court documents obtained by The Washington Post, shareholders of Company X include well-known Silicon Valley venture capitalists and entrepreneurs, as well as a fund associated with hip-hop artist Sean "Diddy" Combs. The documents list nearly 100 holding entities, although many of them appear to represent different funds controlled by the same company or individual. Other investors includeVenture capital firm Andreessen Horowitz, Saudi Prince Alwaleed bin Talal Al Saud, Twitter founder and former CEO Jack Dorsey, and 8VC, a venture capital firm co-founded by Palantir co-founder Joe LonsdaleLess well-known shareholders include Italian financial services company UnipolSai SPA.

Company X has not publicly detailed all of its investors, although the identities of many of its large investors have been previously reported. Company X did not respond to a request for comment.

The investor list was originally filed confidentially in a 2023 lawsuit filed by former Twitter employees.They accused Musk of violating an arbitration agreement by failing to pay them certain fees after purchasing the company.The Reporters Committee for Freedom of the Press filed a motion in July on behalf of independent technology journalist Jacob Silverman seeking the release of the records.

On Tuesday, U.S. District Judge Susan Ilston granted Silverman’s motion and ordered Company X to submit an unredacted copy of the filing to the record of the proceeding. The Washington Post subsequently downloaded the filing from the court’s website. It is unclear when the filing will be fully released to the public.

Katie Townsend, legal director of the Reporters Committee, said the court's ruling demonstrates "the public's right to know who owns Company X." Silverman previously wrote in a blog post,“People have a right to know who plays such an important role in shaping public opinion in the United States and around the world.”

Recently, Musk has made a number of changes to the X platform, including the launch of new subscription options and artificial intelligence chatbots, but he has also made significant layoffs and changed content rules.Some experts believe that these changes may lead to more bad content on the platform, which in turn will exclude users and advertisers. This month, Company X also filed a lawsuit against the World Federation of Advertisers, alleging that its Global Alliance for Responsible Media program's online safety recommendations have harmed Company X's revenue.

also,Financial data shows that some banks and investment institutions are cautious about the prospects of Company X.A mutual fund at Fidelity Investments valued its shares in Company X at nearly $20 million in 2022, but now its value has dropped sharply to $5.6 million. The banks that provided $1.3 billion in credit for Musk's Twitter deal have not yet sold the loans, indicating that the market has doubts about Company X's long-term performance.(Author/Xing Rui)

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