Elon Musk's X drew capital from Silicon Valley elites, global funds

Court filing, which a judge ordered unsealed as part of lawsuit brought by former Twitter employees, lists scores of shareholders but doesn't offer a breakdown nor delve into latest details of stakes

Elon Musk’s X attracted investment from a plethora of big names from Silicon Valley to global finance including Sean “Diddy” Combs and billionaire Larry Ellison, according to a court document unsealed Wednesday.
 

Many of the investors listed, such as Twitter co-founder Jack Dorsey and venture capital houses Andreessen Horowitz and Sequoia, have been previously disclosed. But the filing outlines X Holdings Corp. shareholders in full for the first time in one document, giving the public an overview of the backers behind the social media platform Musk bought for $44 billion in 2022. They include big names in investing such as Bill Ackman’s Pershing Square, Saudi Prince Alwaleed Bin Talal and Fidelity.

 

The takeover drew controversy almost from the moment Musk announced his intentions. Since the acquisition, Musk has gutted its staff and alienated advertisers, the lifeblood of the company. He now plans to transform the platform into an everything-app, incorporating services from highly-produced video series to payments.

The court filing, which a judge ordered unsealed as part of a lawsuit brought by former Twitter employees, lists scores of shareholders but doesn’t offer a breakdown nor delve into the latest details of their stakes. Previous disclosures showed that Musk owned 75 per cent of X’s parent company as of October, while no other backer held more than 10 per cent.

A spokesperson for X didn’t immediately respond to a request for comment after normal hours.

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