Elon Musk’s company X has recently disclosed its list of shareholders as of June 2023, following a court order. The diverse mix of investors includes high-profile names such as Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital, who have supported Musk’s efforts to privatize the former Twitter platform. Other notable investors on the list include Larry Ellison, co-founder of Oracle, and cryptocurrency giant Binance. Surprisingly, the list also features names like Sean “Diddy” Combs and activist investor Bill Ackman, among others, showcasing the broad financial backing behind Musk’s initiatives.
One significant aspect of this shareholder list is the inclusion of Petr Aven and Vadim Moshkovich, investors in the X platform who helped Musk acquire Twitter. The details of this list were officially documented in a court filing on June 9, 2023, and have now been made public following a legal motion by the Reporters Committee for Freedom of the Press. While many investors were already known, the release of this list provides valuable insights into the ownership structure of X without revealing specific stakes. This information is seen as crucial for journalists, researchers, regulators, activists, and others interested in understanding the company’s operations.
Binance, a prominent cryptocurrency exchange, has recently made strides in global expansion efforts. The company successfully registered with the Financial Intelligence Unit of India (FIU-IND), overcoming regulatory hurdles in the country. Additionally, Binance obtained a license from Dubai’s regulator, VARA, enabling the platform to serve retail, qualified, and institutional clients. The licensing process in Dubai involved Binance’s founder, Changpeng Zhao, relinquishing voting control of the Dubai unit. Furthermore, Binance launched a joint venture crypto exchange, Binance Thailand, in collaboration with Gulf Innova, providing digital asset exchange services with Thai baht trading pairs.
Despite its global expansion efforts, Binance has faced regulatory scrutiny in various jurisdictions. Last year, the Commodity Futures Trading Commission (CFTC) filed charges against Binance for allegedly operating an illegal digital asset derivatives exchange and violating federal laws. Similarly, the US Securities and Exchange Commission charged Binance Holdings LTD and former CEO Changpeng Zhao for allegedly operating unregistered exchanges, broker exchanges, clearing houses, and engaging in the unregistered offer and sale of securities. These regulatory challenges highlight the complexities and risks associated with operating a cryptocurrency exchange in different regulatory environments.
The disclosure of X Holding Corp’s shareholders sheds light on the individuals and entities that have supported Elon Musk’s efforts to acquire and privatize the former Twitter platform. The diverse mix of investors, including venture capital firms, tech industry stalwarts, and high-profile individuals, underscores the broad financial backing behind Musk’s initiatives. The release of this shareholder list, while not disclosing specific ownership stakes, provides valuable information for stakeholders seeking to understand the ownership structure of X and the relationships between Musk and his backers. This transparency can foster greater trust and accountability in Musk’s endeavors within the cryptocurrency and social media sectors.
In conclusion, the unveiling of X Holding Corp’s shareholders offers a glimpse into the financial backers behind Elon Musk’s bid to privatize the former Twitter platform. The inclusion of high-profile investors, venture capital firms, and individuals like Binance and Larry Ellison underscores the diverse support for Musk’s initiatives. Additionally, Binance’s recent regulatory milestones and challenges highlight the complexities of global expansion in the cryptocurrency industry. Moving forward, transparency around shareholder structures and regulatory compliance will be critical for Musk’s ventures in the social media and cryptocurrency sectors.
