Elon Musk’s X Reveals Shareholder List Including Bill Ackman, Binance, and Sean ‘Diddy’ Combs

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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August 25, 2024

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Elon Musk’s company X has unveiled its complete list of shareholders as of June 2023 after being compelled by a court order.

The list includes a mix of high-profile investors and tech industry stalwarts who have backed Musk’s venture to privatize the social media platform formerly known as Twitter.

Among the notable investors are venture capital heavyweights like Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital, all of whom had previously supported Musk’s acquisition.

Binance on List of X Shareholders

Also on the list are Oracle co-founder Larry Ellison and cryptocurrency giant Binance, highlighting the diverse financial backing behind Musk’s initiatives.

Surprisingly, the list also features names like Sean “Diddy” Combs through Sean Combs Capital, whose involvement had been lesser-known until a report by the Daily Mail.

Adding to the intrigue is Bill Ackman, the activist investor famous for his critiques of institutional practices at Ivy League schools, who has invested via the Pershing Square Foundation.

Another significant name is Joe Lonsdale’s 8VC, a firm with alleged connections to Russian oligarchs.

Also noteworthy are shareholders like Twitter co-founder Jack Dorsey and Saudi Prince Alwaleed bin Talal al Saud, who transitioned their original Twitter investments into stakes in X following Musk’s takeover.

The details of this shareholder list were officially documented in a court filing on June 9, 2023, but only became public this week following a legal motion by the Reporters Committee for Freedom of the Press, advocating on behalf of journalist Jacob Silverman.

In a blog post, Silverman highlighted that while many backers were already known, the newly released list provides crucial insights without disclosing specific ownership stakes.

He said it’s “a great starting point for journalists, researchers, regulators, activists, and anyone else who wants to know what’s going on behind the scenes of this important company.”

Binance Eyes Global Expansion

In May, the Financial Intelligence Unit of India (FIU-IND) revealed that Binance has successfully registered with the regulatory body, returning to the country after some regulatory hurdles.

Prior to that, the exchange announced that it had obtained a license from Dubai’s regulator, VARA, enabling the platform to cater to retail clients along with qualified and institutional ones.

According to Bloomberg, the licensing process involved Binance’s founder and former CEO, Changpeng Zhao, relinquishing voting control of the Dubai unit.

Furthermore, earlier this year, Binance unveiled its joint venture crypto exchange Binance Thailand, which comes in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.

Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.

It is worth noting that Binance has faced increasing regulatory scrutiny worldwide.

Last year, the Commodity Futures Trading Commission (CFTC) filed charges against Binance for allegedly operating an illegal digital asset derivatives exchange and evading federal laws.

Similarly, the US Securities and Exchange Commission charged Binance Holdings LTD and ex-CEO Changpeng Zhao (CZ) for allegedly operating unregistered exchanges, broker exchanges, clearing houses, and the unregistered offer and sale of securities.