Investors in Elon Musk's X acquisition revealed in court documents
Companies and groups tied to Sean "Diddy" Combs, Jack Dorsey and Bill Ackman were named in the unsealed docuements.
Elon Musk’s social media app, X, recently had 95 co-owners, including a Saudi conglomerate, the cryptocurrency firm Binance and entities associated with the rapper Sean “Diddy” Combs and the billionaire Bill Ackman, according to a list its lawyers filed in federal court this week.
The list is the public’s first complete look at who co-owns the app since Musk bought the company (called Twitter at the time) and took it private in 2022.
It’s not clear how current the list is. X’s lawyers originally filed the list with the court in June 2023 and made it public this week.
Lawyers for X sought to keep the list of equity stakeholders private, but a federal judge in California ordered the company to disclose it as part of a lawsuit brought by former Twitter employees who accuse the company of breaching its employment contracts. X filed a redacted list in court last year. Then, after journalist Jacob Silverman petitioned for the list to be public, U.S. District Judge Susan Illston in San Francisco ordered Tuesday that X lawyers file an unredacted version.
It is common in civil lawsuits for corporations to disclose at least some of their ownership details, and the federal court in San Francisco has a rule saying nongovernment parties to a lawsuit must disclose anyone with “a financial interest of any kind.”
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