In a court filing, the investors backing Elon Musk’s X, formerly Twitter, have been revealed. The list includes high-profile names such as Saudi Prince Al Waleed bin Talal al Saud, Jack Dorsey, Sean “Diddy” Combs, and Andreessen Horowitz.
What Happened: The court document was ordered to be unsealed by a federal judge on Tuesday, revealing the shareholders of X Holdings Corp.
The document lists nearly 100 entities with a stake in X, many of which represent different funds controlled by the same firm or person, reported The Washington Post, citing an unredacted copy of the filing.
Among the shareholders are some of Silicon Valley’s most prominent venture capitalists and entrepreneurs, as well as a fund linked with rapper Sean Combs, also known as Diddy.
Other investors include Twitter co-founder and former CEO Dorsey, venture capital firm Andreessen Horowitz, and 8VC, a venture capital firm co-founded by Joe Lonsdale, co-founder of intelligence contractor and data analysis platform Palantir.
The list of investors was originally filed under seal as part of a lawsuit brought in 2023 by former Twitter employees, the report noted.
The court’s ruling vindicates “the interest of the general public in knowing who owns X,” according to Katie Townsend, legal director for the Reporters Committee.
Why It Matters: Since acquiring the company for $44 billion in 2022, Musk has been vocal about his plan to transform X into an all-encompassing app that includes payments.
The majority of X’s revenue currently comes from advertising and a portion from premium membership subscriptions.
In February, Fidelity, which holds X shares in the Fidelity Blue Chip Growth Fund mutual fund, valued the social media company at a 68% discount, bringing X’s estimated value to approximately $14.1 billion from the $44 billion that Musk paid for it.
Musk has previously disclosed that he reduced approximately 80% of X’s workforce after he acquired the social media platform. X CEO Linda Yaccarino has supported his decision calling it a “very necessary cost discipline exercise.”