Elon Musk’s firm, X, was ordered by a federal judge to reveal its list of shareholders, providing insight into the investors behind Musk’s $44 billion acquisition of Twitter, now X, in October 2022.

Highlights include:
– Nearly 100 entities reported as investors; many represent multiple funds from the same source.
– Notable backers include:
– Andreessen Horowitz (venture capital firm)
– Saudi Prince Alwaleed bin Talal al Saud
– Twitter founder Jack Dorsey
– 8VC (co-founded by Palantir’s Joe Lonsdale)
– UnipolSai S.P.A. (Italian financial firm, less recognized)
– The unsealed filing follows a lawsuit from ex-Twitter employees claiming Musk didn’t honor arbitration terms regarding fees.
– The nonprofit Reporters Committee for Freedom of the Press initiated the unsealing request for transparency on X’s ownership structure.
– The court acknowledged the public’s right to know who controls X, crucial due to the platform’s influence on global discourse.
– Despite initial investment enthusiasm, X’s business has faced challenges, reportedly decreasing the value of some investors’ stakes.
– In recent actions, Musk has introduced subscription services and an AI chatbot, while implementing major staff cuts and altering content rules, contributing to concerns about the platform’s user experience and advertisement appeal.
– As of January, a Fidelity fund reassessed its investment in X, lowering its valuation from $20 million to $5.6 million amid growing skepticism.
– X’s debt from Musk’s acquisition remains unresolved, longer than typical since the 2008 crisis, reflecting uncertain market perceptions.
– Musk is potentially leveraging the upcoming presidential election to boost X’s user engagement, reinforcing his alignment with right-leaning audiences.