High-Profile Investors Back Elon Musk’s X
Elon Musk’s company, newly known as X, unveiled the complete list of its stockholders as of June 2023 in response to a court order. Among the renowned investors in this collection are veterans of the technology industry who have contributed to Musk’s vision to take the social media behemoth private.
Highly respected VC firms like Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital are some of the most prominent ones mentioned. These companies were the main supporters of Musk’s takeover of Twitter and continue to do so with the development of the platform into X.
Binance on List of X Shareholders
In addition, Oracle co-founder Larry Ellison, along with crypto exchange Binance, are also mentioned, which highlights the wide and significant financial support Musk has gotten for X.
One of the unexpected discoveries was the participation of Sean “Diddy” Combs, whose investment through Sean Combs Capital was not known to many until the recent report.
Moreover, a notable investor with a reputation for criticizing institutional actions, Bill Ackman, who has invested in the Pershing Square Foundation, is also part of the intrigue. Ackman’s involvement implies the presence of wider financial and strategic interests in Musk’s ventures.
Legal Disclosure Sparks New Insights
The comprehensive list of shareholders was submitted in a court filing on June 9, 2023, but only became public this week following a legal bid by the Reporters Committee for Freedom of the Press. This petition was filed on behalf of journalist Jacob Silverman, who stressed that the list gives crucial information, even if it does not disclose the precise ownership percentages.
Silverman, while taking the blog post, said the list that was disclosed as “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 is Heading For Global Expansion
The revealing of Binance in the list of X shareholders dovetails with its worldwide growth pursuits. In May, the Financial Intelligence Unit of India (FIU-IND) announced Binance’s successful registration with the regulatory body, enabling the company to return to the Indian market again after going through challenges with regulators in the past.
Last year, Binance obtained its license from Dubai’s regulator – VARA. In this regard, it is allowed to service retail and institutional clients in the region. Concurrently, Binance set up Binance TH, the company’s foray into Thailand, through a partnership with Gulf Innova, a subsidiary company of Gulf Energy Development.
Yet, while it is growing all over the world, Binance is still directed under authority supervision. Last year, the US Commodity Futures Trading Commission (CFTC) charged Binance for allegedly operating an unlicensed digital asset derivatives exchange and attempts to elude federal rules. They also blamed Binance’s former CEO, Changpeng Zhao.
