As someone who has been following Elon Musk’s business ventures with keen interest, I must say this recent disclosure of shareholders for his parent company X Corp is intriguing indeed! To see names like Sean ‘Diddy’ Combs, Bill Ackman, Larry Ellison, and Marc Andreessen on the list is quite a sight.
Following a mandate from a federal court, Elon Musk’s X Corporation has made public a roster of shareholders belonging to its parent company.
The document, revealed on Wednesday night, lists investors such as entities associated with Sean “Diddy” Combs, Bill Ackman, Larry Ellison, and Marc Andreessen among those involved.
The revelation originates from a lawsuit initiated by ex-Twitter employees who claim Musk breached their arbitration agreements by not compensating them specified fees post his acquisition of the platform. The document enlists approximately 100 entities with an interest in the company, including Saudi Prince Alwaleed bin Talal al Saud and his investment group Kingdom Holding Company, as well as Twitter co-founder Jack Dorsey.
The document offers a glimpse at the backers behind Elon Musk’s $44 billion acquisition of the globally recognized social media platform, often referred to as one of the world’s largest public forums because of its extensive international influence.
In this legal matter, X resisted disclosing its major shareholders’ names. To satisfy litigation requirements, it submitted a corporate declaration stating that no publicly traded corporation holds 10% or more of its shares without naming specific entities. However, a journalist and the Reporters Committee for Freedom of the Press have requested to join the lawsuit, asserting that there is significant public interest in uncovering the financial influences shaping free speech on one of the globe’s most widely used social media platforms.
On a Tuesday court ruling, Judge Susan Illston determined that the contents of the sealed filing from June do not include confidential information or trade secrets deemed scandalous.
Among the limited number of entertainment figures on the list is Sean Combs’ Capital fund. This fund is one of several associated with Combs, who has numerous business ventures across various industries. The disclosure doesn’t specify the amount he invested in X. Since his investment in the site in 2022, he’s been hit by lawsuits alleging sexual assault and battery. The former tycoon, currently under federal investigation for sex trafficking, has denied these accusations. However, a 2016 surveillance video released by CNN in May appears to show him forcefully grabbing and kicking his ex-girlfriend Cassie Venture at a hotel.
As a gamer, I found myself in a tight spot when the court insisted that my gaming company had to reveal the true identities of our investors, due to our previous actions leaving us no other choice. Following the filing of the lawsuit, we decided to transfer the case from the state court to the Federal Court of the Northern District of California, which has specific rules mandating the disclosure of any parties with a financial interest in the legal proceedings.
See the full list below:
https://www.scribd.com/embeds/761620755/content
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2024-08-22 22:25