To find out who owns Elon Musk’s X formerly known as Twitter you had to wait until June 2023 to get the whole list. Now available online, the list features the several well-known investors and tech behemoths supporting Musk’s audacious scheme to turn the social networking platform private.
Among the listed shareholders are well-known venture capital companies such Sequoia Capital, Andreessen Horowitz, and Draper Fisher Jurvetson. These companies enabled Musk to purchase Twitter as well. Skilled investors abound there, indicating that individuals still believe Musk’s proposal to overhaul the platform is sound.
On the list also is Lawrence Ellison. Ellison started Oracle and has before provided money to initiatives headed by Elon Musk. X includes the rather big Bitcoin exchange Binance. This demonstrates its wide range of financial support, mixing conventional tech investment with the increasing value of digital assets.
The list also shows that Sean “Diddy” Combs was involved, which is a surprise. Many people didn’t know about his stake through Sean Combs Capital until now. The fact that Combs is on the list of owners makes it more interesting, and it’s a big step for him in the tech business.
The political investor Bill Ackman is also on the list because he put money into companies through the Pershing Square Foundation. Ackman is known for speaking out against unfair business practices. Ackman’s involvement shows that he likes companies that try new things. It could also be a sign of a planned move into the social media space.
One of the other big names on the list is 8VC, which is run by Joe Lonsdale and has ties to Russian billionaires. This type of business owns shares in X, which makes people wonder what the investments made on the platform will mean for the world as a whole.
Elon Musk Retains Key Stakeholders Jack Dorsey And Saudi Prince Alwaleed
Jack Dorsey, who helped start Twitter, and Saudi Prince Alwaleed bin Talal al Saud are two well-known owners. They both turned the Twitter shares they had into stakes in X. The fact that they are still using the platform shows how interested people are in how Musk runs it.
In a court document filed on June 9, 2023, the name of shareholders was made public. It wasn’t made public until this week, when the Reporters Committee for Freedom of the Press won a court case. The move, which was made by reporter Jacob Silverman, asked for clarity on who was paying for Musk’s new platform.
In a blog post, Silverman talked about how important the newly released list was. He said that many of the backers were already known, but that the paper gives important information without giving specific ownership stakes.
He said this was the best place to start for anyone who wants to know what this big company does behind the scenes. This includes journalists, researchers, government officials, protesters, and more.
The list of shareholders came out at the same time that Binance is getting a lot of press for its efforts to grow around the world. Binance got back into the market in May after registering with India’s Financial Intelligence Unit (FIU-IND) to avoid legal issues.
The exchange also got a license earlier this year from the Virtual Assets Regulatory Authority (VARA) in Dubai. This allows it to work with individuals, businesses, and other accepted clients in the region.
Changpeng Zhao, who started Binance and used to be its CEO, has been very helpful with these growths. However, he is said to have given up voting rights in the Dubai unit as part of the license process. Binance also showed off Binance Thailand, a cryptocurrency exchange they built with Gulf Innova, a Gulf Energy Development company.
But it hasn’t been easy for Binance to grow around the world. The exchange is being closely watched by more and more government agents. In the US, this is especially true because it is being charged with crimes by both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
The CFTC and SEC both said that Binance was running an illegal market for digital assets and swaps. The SEC also said that Binance was breaking securities laws by doing business without a license.
With X’s stock list now available, we can observe the convoluted network of financial interests underlying Elon Musk’s new social networking site.
People you wouldn’t likely find supporting X include Sean “Diddy” Combs. Though most are fascinating folks you would not have heard of, some are well-known venture investors. Binance’s ongoing expansion demonstrates how rapidly and frequently contentious Musk’s large financial ambitions are in line with.
