Elon Musk's X Company Releases Full List of Shareholders
Date: 2024-08-26 Author: Gabriel Deangelo Categories: BUSINESS
The investors who backed the privatization of the former Twitter include leading venture capital firms like Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital. The list also includes Oracle co-founder Larry Ellison and cryptocurrency company Binance, highlighting the diversity of Musk's financial backing.
Sean "Diddy" Combs' participation through Sean Combs Capital was a surprise. Also on the list is activist investor Bill Ackman, known for his criticism of institutional practices at Ivy League universities, who invested through the Pershing Square Foundation.
Other notable shareholders include Twitter co-founder Jack Dorsey and Saudi Arabian Prince Alwaleed bin Talal al Saud, who converted their Twitter investments into stakes in X after Musk bought it.
The shareholder list was originally filed on June 9, 2023, but was only made public this week by the Reporters Committee for Freedom of the Press (RCFP) on behalf of journalist Jacob Silverman. In a blog post, Silverman noted that while many of the investors were already known, the new list provides important insights without disclosing specific ownership stakes.
Meanwhile, Binance, one of X’s shareholders, continues its global expansion. In May, the Indian regulator (FIU-IND) announced that Binance had re-registered in the country after clearing a number of regulatory hurdles. The exchange had previously received a license from Dubai’s VARA, allowing it to serve retail, qualified, and institutional clients. Earlier this year, Binance also announced the creation of a joint cryptocurrency exchange, Binance Thailand, in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.
However, Binance continues to face increasing regulatory scrutiny around the world. Last year, the U.S. Commodity Futures Trading Commission (CFTC) charged Binance with illegal derivatives trading and evading federal laws. In turn, the U.S. Securities and Exchange Commission (SEC) accused Binance and its former CEO Changpeng Zhao of conducting unregistered transactions and selling securities.
