Ritika Janiya
Elon Musk’s social media platform, X, formerly known as Twitter, has had to reveal its list of owners due to a legal dispute. The list includes some high-profile investors, like Bill Ackman, Sean “Diddy” Combs, and Larry Ellison, among nearly 100 other stakeholders.
Elon Musk’s social media platform, X, was recently forced to unveil its list of owners due to a lawsuit from former employees. This case involved the employees seeking payment for arbitration fees following Musk’s purchase of the site. Up until now, X had kept its list of investors secret, saying it was a standard practice to do so. But this week, a federal judge in California decided to make the list public.
So, who are the people behind X? Well, it turns out there are quite a few familiar names. Let’s dive into the surprising list of investors who now hold a piece of the social media giant.
First on the list is Bill Ackman, a well-known investor and founder of Pershing Square Holdings. Ackman’s Pershing Square Foundation has a stake in X. Though the foundation is run by a different team, Ackman and his wife, Neri Oxman, are co-trustees. Ackman is quite active on X, using it to engage with other public figures and discuss various topics. For example, he has debated Shark Tank star Mark Cuban and voiced opinions about Harvard University’s leadership.
Another name that might catch your eye is Larry Ellison, the founder of Oracle. His involvement with X comes through the Lawrence J. Ellison Revocable Trust. This trust is meant to manage Ellison’s assets and estate. Interestingly, Ellison himself isn’t a frequent user of X. Despite having over 130,000 followers, he has only posted on the site twice—once in 2012 and again in 2023.
Sean “Diddy” Combs is also on the list of investors. His business, Sean Combs Capital, holds a stake in X. Combs is a well-known figure in the music and entertainment industry, and his involvement adds another layer of celebrity to the list of investors.
The filing also reveals that Fidelity, a major investment firm, has significant backing in X. Fidelity has been linked to X before, especially after its filings showed a big drop in the company’s value since Musk’s takeover. The new documents show that nearly 30 different Fidelity-related entities hold shares in X.
Aside from these big names, the list of nearly 100 owners includes a mix of investors from various fields. The revelation of this list gives us a better idea of who has a financial stake in the platform. It’s a blend of high-profile individuals and large investment firms, making for an interesting mix of personalities behind the scenes.
The decision to unseal the list was a significant one, as it breaks from X’s previous practice of keeping its investors confidential. This move could provide insight into the financial backing of X and how it may influence the platform’s future developments.
Overall, the list of X’s owners shows a diverse group of investors, from big-name celebrities to major investment firms. This mix highlights the broad appeal and financial support behind Musk’s ambitious social media project. As X continues to grow and evolve, it will be fascinating to see how these investors shape its future.
The unsealing of X’s owner list offers a glimpse into the high-stakes world of social media investment. It’s a reminder that behind every major platform, there’s a web of influential figures and organizations pulling the strings. With names like Bill Ackman, Larry Ellison, and Sean “Diddy” Combs involved, X’s investor list reads like a who’s who of the business and entertainment worlds.
In summary, the recent court decision to reveal X’s owners sheds light on the powerful and famous individuals supporting Elon Musk’s social media venture. It underscores the significant financial backing that can influence the direction and success of such platforms.
