Elon Musk’s firm, X, has published its complete shareholder list as of June 2023, following a court mandate. This compilation reveals a distinctive array of prominent investors and influential figures from the tech sector who have supported Musk’s efforts to privatize the social media platform formerly known as Twitter.
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Diverse Support for Musk’s Venture
Among the prominent investors are notable venture capital firms such as Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital, all of which had previously backed Musk's acquisition.
In addition to these giants, the list includes Oracle co-founder Larry Ellison and cryptocurrency leader Binance, showcasing the varied financial resources behind Musk's initiatives.
Surprisingly, Sean “Diddy” Combs appears on the list through Sean Combs Capital, marking revealed involvement that had not been widely recognized prior to a report by the Daily Mail.
Adding to the intrigue, activist investor Bill Ackman, known for his criticisms of institutional practices at elite universities, has made investments through the Pershing Square Foundation.
Among the other noteworthy investors are Joe Lonsdale’s 8VC, a company purportedly linked to Russian oligarchs.
Additionally, former Twitter co-founder Jack Dorsey and Saudi Prince Alwaleed bin Talal al Saud have converted their original investments in Twitter into stakes in X following Musk’s takeover.
Legal Revelations and Insights
This shareholder list was documented in a court filing dated June 9, 2023, but only made public recently following a legal motion by the Reporters Committee for Freedom of the Press, which supports journalist Jacob Silverman.
In a blog post, Silverman emphasized that while many supporters were already recognized, the newly disclosed list offers invaluable insights without revealing specific ownership proportions. He noted that it serves as “a great starting point for journalists, researchers, regulators, activists, and anyone else wanting to understand the inner workings of this significant company.”
Binance and Its Global Aspirations
In May, India’s Financial Intelligence Unit (FIU-IND) announced that Binance had successfully registered with the regulatory body, marking its return to the country after overcoming certain legal obstacles.
Prior to this, Binance had secured a license from VARA, Dubai’s regulatory authority, allowing it to serve both retail and institutional clients.
According to Bloomberg, this licensing process required Binance’s founder and former CEO, Changpeng Zhao (CZ), to give up voting control of the Dubai operation.
Moreover, Binance has recently launched a joint venture crypto exchange named Binance Thailand in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development. Binance Thailand, or Binance TH, offers digital asset exchange services with trading options in Thai baht.
Despite these advancements, Binance continues to face heightened regulatory scrutiny globally. Last year, the Commodity Futures Trading Commission (CFTC) filed charges against the exchange, alleging it operated an illegal digital asset derivatives exchange and evaded compliance with federal laws.
Similarly, the U.S. Securities and Exchange Commission charged Binance Holdings LTD and Changpeng Zhao for purportedly running unregistered exchanges and broker services, as well as unlawfully offering and selling securities.
