Revealed the Hidden Stakeholders of Elon Musk's X

Social Media · August 23

Elon Musk’s social media platform, X, previously known as Twitter, has recently disclosed a comprehensive list of its investors due to a lawsuit brought by former employees. These employees are seeking the payment of arbitration fees incurred after Musk’s acquisition of the platform. X had initially argued that its investors should remain confidential as part of their "routine practice and policy." However, a federal judge in California ordered the unsealing of the list, revealing a diverse and sometimes surprising group of stakeholders.

Among the nearly 100 owners of X are several well-known figures, both from the world of high finance and the social media ecosystem itself. High-profile investors like Fidelity have long been associated with X, particularly after reports suggested that the platform's value had dropped by 72% since Musk took control. This newly unsealed document confirms Fidelity's substantial involvement, with almost 30 separate entities linked to Fidelity holding stakes in X.

The list also uncovers some lesser-known stakeholders who, until now, were not widely recognized as being connected to Musk's venture. For instance, the Pershing Square Foundation, led by billionaire investor Bill Ackman and his wife, Neri Oxman, is listed as one of the owners. Ackman, known for his vocal presence on social media, often uses X to engage in public debates with high-profile individuals like Mark Cuban and to voice his opinions on various issues, including those related to his alma mater, Harvard University.

Another significant name on the list is Oracle founder Larry Ellison, who owns a stake in X through the Lawrence J. Ellison Revocable Trust. Despite Ellison’s substantial wealth and influence, he is not a frequent user of the platform. In fact, he has only posted on X twice—once in 2012 and again in 2023—despite having over 130,000 followers.

Sean “Diddy” Combs, the American rapper and entrepreneur, also appears among the owners. His stake in X is tied to Sean Combs Capital, a company that aligns with his broader business ventures under the Combs Global umbrella. Over the years, Combs has launched multiple businesses, including the Sean Combs Foundation and Combs Investments, solidifying his status as a prominent figure in both entertainment and business.

Musk's ambitious project has also caught the attention of royalty. HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, a Saudi prince with a net worth close to $19 billion, holds a stake in X. Prince Alwaleed’s investments extend beyond social media, as he also owns shares in luxury hotels like the Four Seasons and the Savoy, as well as other technology companies such as Lyft.

Interestingly, despite his public criticism of Musk’s leadership, Twitter co-founder Jack Dorsey still retains shares in the platform through the Jack Dorsey Remainder LLC. Dorsey initially supported Musk's takeover of Twitter but later distanced himself from the platform’s direction, expressing his discontent on a rival social media site, Bluesky, where he remarked, "It all went south."

In addition to these well-known figures, the unsealed documents also highlight a number of individual investors and organizations that have a stake in X. These include Danilo Kawasaki and Ross Gerber, leaders of the wealth and investment management firm Gerber Kawasaki, who are listed as both individual investors and representatives of their firm. Silicon Valley venture capital firms such as 8VC, Andreessen Horowitz, and Sequoia are also prominent stakeholders in the platform.

Of course, the list would be incomplete without mention of Musk himself. The SpaceX founder is listed as a major stakeholder through the Elon Musk Revocable Trust. Musk acquired X for $44 billion in 2022, a move that has since been fraught with challenges, including the departure of key advertisers, significant layoffs, and widespread criticism of Musk’s strategic decisions.

Despite the controversies surrounding Musk's management, the release of this list provides a rare glimpse into the diverse and influential group of individuals and entities that have backed his ambitious social media venture. As the platform continues to evolve under Musk's leadership, the roles and influence of these stakeholders may come under greater scrutiny, particularly as X navigates the complex landscape of digital media and communication in the coming years.

The full list

8VC Opportunities Fund II, L.P.
ADREM X LLC
ADREM Y LLC
Afshar Partners, LP
Andrea Stroppa
Andreessen Horowitz LSV Fund III, L.P.
Anthem Ventures, LLC
ARK Venture Private Holdings LLC
BAMCO, Inc.
Bandera Fund LLC
Baron Opportunity Fund
Baron Partners Fund
Binance Capital Management Co., Ltd
Brookfield Project X L.P.•CCM 2020 Investments LLC
Cheng and Chen Family Trust
CNK Fund IV, L.P.
Danilo Kawasaki
Dayton Family Enterprises, LLC
Dayton Family Investments, LLC
DFJ GROWTH IV, L.P.
DFJ GROWTH IV PARALLEL FUND, LLC
DFJ GROWTH X-I, L.P.
Eden Relationship Capital L.P.
Elon Musk as Trustee of the Elon Musk Revocable Trust dated July 22, 2003
FIAM Target Date Blue Chip Growth Commingled Pool By: Fidelity InstitutionalAsset Management Trust Company as Trustee
Fidelity Blue Chip Growth Commingled Pool By: Fidelity Management TrustCompany, as Trustee
Fidelity Blue Chip Growth Institutional Trust By its manager Fidelity InvestmentsCanada ULC
Fidelity Canadian Growth Company Fund by its manager Fidelity InvestmentsCanada ULC
Fidelity Central Investment Portfolios LLC: Fidelity U.S. Equity Central Fund -Communication Services Sub
Fidelity Contrafund: Fidelity Advisor New Insights Fund – Sub A
Fidelity Contrafund: Fidelity Advisor New Insights Fund – Sub B
Fidelity Contrafund: Fidelity Contrafund•Fidelity Contrafund: Fidelity Contrafund K6
Fidelity Contrafund: Fidelity Series Opportunistic Insights Fund
Fidelity Contrafund Commingled Pool By: Fidelity Management Trust Company,as Trustee
Fidelity Destiny Portfolios: Fidelity Advisor Diversified Stock Fund
Fidelity Global Growth and Value Investment Trust – Sub A By its manager Fidelity Investments Canada
Fidelity Global Innovators Investment Trust by its manager Fidelity InvestmentsCanada ULC
Fidelity Growth Company Commingled Pool By: Fidelity Management TrustCompany, as Trustee
Fidelity Insights Investment Trust By its manager Fidelity Investments CanadaULC
Fidelity Mt. Vernon Street Trust: Fidelity Growth Company Fund
Fidelity Mt. Vernon Street Trust : Fidelity Growth Company K6 Fund
Fidelity Mt. Vernon Street Trust: Fidelity Series Growth Company Fund
Fidelity OTC Commingled Pool By: Fidelity Management Trust Company, as Trustee
Fidelity Puritan Trust: Fidelity Puritan Fund – Equity Sub B
Fidelity Puritan Trust: Puritan K6 Fund – Equity Subportfolio•Fidelity Securities Fund: Fidelity Blue Chip Growth Fund
Fidelity Securities Fund: Fidelity Blue Chip Growth K6 Fund
Fidelity Securities Fund: Fidelity OTC K6 Portfolio
Fidelity Securities Fund: Fidelity OTC Portfolio
Fidelity Select Portfolios : Select Communication Services Portfolio•G64 Ventures LLC
Gerber Kawasaki Inc.
GFNCI LLC
Gigafund 0.21, LP
Glacier Ventures LLC
Go Mav, LLC
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud
IMG US, LLC
Jack Dorsey Remainder LLC
Jack Dorsey Tr Ua 12/08/2010 Jack Dorsey Revocable Trust
Kingdom Holding Company
Lawrence J. Ellison Revocable Trust
Linda Ye and Robin Ren Family Foundation
Litani Ventures•Luchi Fiduciaria SR POS. 365
Manhattan Venture Partners X LLC
Mirae Asset Innovation X ONE, LLC
Mirae Asset Project X Fund I, LP•Olivier Janssens
Q Tetris Holding LLC
Ross Gerber
Santo Lira LLC
SC CDA1 LLC
SCGE Fund, L.P.•SCGGF III – U.S./India Management, L.P.
SCHF (M) PV, L.P.
Scott Nolan
SC US/E Expansion Fund I Management, L.P.
Sean Combs Capital, LLC
Sequent (Schweiz) AG as Trustee of the Debala Trust
Sequioa Capital Fund, L.P.
Series N Dis, a series of Atreides Special Circumstances Fund, LLC
Shahidi Tactic Group, LLC
Steve Davis
T. One Holdings LLC
The Pershing Square Foundation
TM33 Partner Holdings
Tresser Blvd 402 LLC
UnipolSai S.P.A.
Variable Insurance Products Fund II: VIP Contrafund Portfolio – Subportfolio A
VYC25 Limited
X Holdings I Investment, LLC