Elon Musk’s X Holdings, the parent company of the X platform (formerly Twitter) and X.ai, will soon publicly reveal its ownership structure following a federal ruling in California. This disclosure comes as part of a lawsuit from former Twitter employees regarding unpaid arbitration fees, which prompted journalist Jacob Silverman to request the unsealing of corporate documents.
Key points:
– The court ruled against X Holdings’ argument for confidentiality, stating the disclosure does not include scandalous or proprietary information.
– Investors reported in Musk’s acquisition include Jack Dorsey, Larry Ellison, and venture capital firms like Andreessen Horowitz and Sequoia Capital.
– The full list of investors and company structure has not been disclosed until now.
– Deadline for X Holdings to file the detailed disclosure is September 4.
– Silverman emphasizes the importance of transparency regarding ownership and influence over governance.