The recent disclosure of the list of X Holding Corp shareholders has shed light on the diverse group of investors backing Elon Musk’s initiative to privatize the social media platform formerly known as Twitter. The list includes well-known venture capital firms like Andreessen Horowitz, Draper Fisher Jurvetson, and Sequoia Capital, all of whom had previously supported Musk’s acquisition. Additionally, high-profile individuals such as Oracle co-founder Larry Ellison, rapper Sean “Diddy” Combs, and activist investor Bill Ackman have also invested in X. The inclusion of cryptocurrency giant Binance and Russian oligarch-connected firm 8VC further demonstrates the wide-ranging financial backing behind Musk’s projects.
The shareholder list, officially documented in a court filing in June 2023, was made public following a legal motion by the Reporters Committee for Freedom of the Press on behalf of journalist Jacob Silverman. While many of the investors were already known, the release of the list provides valuable insights without revealing specific ownership stakes. Silverman emphasized the importance of this information for journalists, researchers, regulators, activists, and anyone interested in understanding the inner workings of X Holding Corp. The transparency brought about by this disclosure marks a significant step in understanding the composition of the company’s ownership.
In other news, Binance has announced its successful registration with the Financial Intelligence Unit of India, allowing the exchange to operate in the country after facing regulatory hurdles. The platform also obtained a license from Dubai’s regulator, VARA, enabling it to serve retail clients, qualified investors, and institutions. Binance has been expanding its global footprint, with the launch of Binance Thailand, a joint venture crypto exchange in collaboration with Gulf Innova. Despite its growth, Binance has faced regulatory challenges, including charges filed by the CFTC and SEC in the US for allegedly operating illegal exchanges and securities violations.
Overall, the disclosure of X Holding Corp’s shareholder list provides valuable insights into the investors backing Elon Musk’s endeavor to privatize the former Twitter platform. The inclusion of prominent venture capital firms, high-profile individuals, and cryptocurrency giants highlights the diverse financial backing behind Musk’s projects. The transparency brought about by the release of this information is crucial for journalists, researchers, and regulators seeking to understand the ownership structure of X. Additionally, Binance’s regulatory challenges and global expansion efforts underscore the complexities faced by cryptocurrency exchanges in navigating regulatory environments worldwide.
