Elon Musk’s social media platform X has disclosed its major investors after a U.S. federal judge mandated the release of this information. Key investors include:
– Andreessen Horowitz LSV Fund III, L.P.
– Binance Capital Management Co., Ltd.
– HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud (Saudi Arabia)
– Jack Dorsey Remainder LLC.
– Sequoia Capital Fund, L.P.
– Elon Musk as Trustee of the Elon Musk Revocable Trust.
Tech journalist Jacob Silverman advocated for transparency regarding the shareholders funding Musk’s 2022 acquisition of Twitter, emphasizing the public’s right to know who influences such an impactful company. He noted that X’s claim to uphold free speech necessitates awareness of its stakeholders.
Since the $44 billion acquisition, Musk has faced several challenges, including:
– Alienating advertisers
– Criticism over content moderation
– Lawsuits related to mass layoffs
Additionally, he’s attempted to monetize features like the verification tick and introduced an AI chatbot named Grok.
The legal filing clarified that X Corp. is fully owned by X Holdings Corp., with no public corporations holding 10% or more of their stock. An August report from The Wall Street Journal labeled Musk’s acquisition of Twitter as the worst bank-financed merger since the 2008 crisis, highlighting the significant losses incurred by the lending banks due to the platform’s financial decline.
