>>/144618/
Elon Musk was just forced to reveal who really owns X. Here’s the list
Bill Ackman and Sean "Diddy" Combs are among the list of owners of Elon Musk's X, the social media site formerly known as Twitter.
The platform has been forced to disclose its investors as part of a lawsuit brought by former employees, who are seeking payment of arbitration fees incurred following Musk's purchase of the site.
Previously, X has argued that its investors were confidential as a matter of "routine practice and policy," but this week, a federal judge in California ruled to unseal the list of the site's owners.
Among the nearly 100 owners of the social media giant are some familiar names, both from the world of investment and within the X universe.
Previously, high-profile investors like Fidelity have been connected with X, most notably because the investment vehicle's filings implied a 72% drop in the company's value since Musk took it over.
However, the latest filing reveals the investment behemoth's backing of the platform, with almost 30 separate Fidelity-linked entities holding stakes in the brand.
This week's unsealed documents also lay bare the lesser-known stakeholders in the company.
The list seen by Fortune reveals the Pershing Square Foundation owns a stake in X. If the name sounds familiar, that's because of its link to Pershing Square Holdings, founded by billionaire investor Bill Ackman 20 years ago. Although the foundation of the same name is led by an independent senior leadership team, Ackman and his wife, Neri Oxman, are co-trustees. Ackman is a vocal user of X and frequently uses the platform to address other high-profile individuals and entities. He has used it to debate Shark Tank star Mark Cuban and raise questions about the leadership of his alma mater, Harvard University.
Elsewhere on the list of owners is Oracle founder Larry Ellison. The stake in X comes via the Lawrence J. Ellison Revocable Trust, the principal business of which, per an SEC report filed in 2008 and seen by Fortune, is to "hold the assets and estate of Mr. Ellison." The interests of the trust and Oracle bear no relation to each other, the SEC filing adds. Unlike Ackman, Ellison is not an avid user of the site. Despite having more than 130,000 followers, Ellison has posted twice—once in 2012 and once in 2023.
Another notable name on the list is Sean Combs Capital. While SEC filings show no matches for the company, the business has previously been linked to the American rapper Diddy—previously known as Puff Daddy—who has launched a number of businesses under his birth name.
These have included the Sean Combs Foundation, Combs Investments, and more recently the umbrella brand for his holdings, Combs Global.
Musk has also managed to attract some royal attention for his endeavor, with HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud also featured on the list. The Saudi prince has a net worth just shy of $19 billion, per Forbes, and also has holdings in the likes of luxury hotels the Four Seasons and the Savoy, as well as other technology firms like ride-sharing company Lyft.
It also seems that despite his criticism of Musk's leadership, Jack Dorsey still owns shares in the platform he founded via the Jack Dorsey Remainder LLC. The Twitter cofounder previously backed the Tesla CEO in his takeover of the company but walked back his support earlier this year, telling a member on rival social media platform Bluesky, "It all went south.”
cont...