Elon Musk’s social media platform X (formerly known as Twitter) has been forced to disclose a list of its investors as part of a lawsuit brought by former employees.

These employees are seeking reimbursement for arbitration costs they incurred after Musk acquired the company. The disclosure was ordered by a federal judge in California, who ruled against X’s demand that the identities of its investors remain confidential.

The unsealed documents revealed the identities of nearly 100 investors, including several well-known figures from the financial, technology and entertainment industries.

They include billionaire investor Bill Ackman, who operates through his Pershing Square Foundation, and music mogul Sean “Diddy” Combs, who is associated with the Sean Combs Foundation and Combs Investments. These investors, among many others, have poured their money into Musk’s ambitious venture, even though the platform has been turbulent since he took over.

Familiar faces in the X-Universe
Unsurprisingly, the list includes several prominent names that have long been associated with tech investing. Fidelity Investments, a major player in the financial sector, has a stake in X through nearly 30 different companies. Fidelity’s involvement has been closely watched, especially since reports emerged that the platform’s value had plummeted 72 percent since Musk’s takeover.

Other notable investors include Oracle founder Larry Ellison, who holds a stake in X through his Lawrence J. Ellison Revocable Trust. Although Ellison is not a frequent user of X, his involvement underscores the platform’s appeal to tech industry heavyweights. Twitter co-founder Jack Dorsey continues to hold a stake in X through Jack Dorsey Remainder LLC, despite publicly criticizing Musk’s leadership in recent months.

Political and international interests
The list also highlights the intersection of technology, finance and politics. Several investors are known supporters of Donald Trump, and their involvement with X is in line with Musk’s own controversial decisions, such as reinstating Trump’s account on the platform. These investors include venture capitalists Marc Andreessen and Ben Horowitz, as well as Joe Lonsdale’s 8VC and Sequoia Capital, which has a history of supporting conservative causes in Silicon Valley.

Surprisingly, the unsealed documents show that Musk’s venture has also attracted international interest. His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, a Saudi royal with a vast portfolio that includes luxury hotels and technology companies like Lyft, is one of X’s investors. The prince’s involvement underscores the global reach and influence of Musk’s platform, even as it faces challenges on several fronts.

Legal and public control
The decision to release the investor list was the result of a motion filed by the Reporters Committee for Freedom of the Press on behalf of independent tech journalist Jacob Silverman. The motion argued that the public has a right to know who owns a platform as influential as X, especially given Musk’s self-proclaimed commitment to free speech.

Musk’s X Corp. was given until September 4 to comply with the order, a significant moment in the ongoing legal battle between the company and its former employees. The disclosure of these investors not only sheds light on X’s financial backing, but also raises questions about the influence of these stakeholders on the platform’s direction and policies.

Future challenges for X
Since acquiring X for $44 billion in 2022, Musk has faced a number of challenges, including a mass exodus of advertisers, mass layoffs and growing criticism of his leadership style. The platform’s financial difficulties have prompted some investors, such as Ross Gerber of Gerber Kawasaki Wealth and Investment Management, to publicly voice their concerns about Musk’s leadership. Despite these issues, the published list of investors suggests there remains strong interest in X’s potential, even as the platform’s future remains uncertain.

As X continues to navigate these turbulent waters, Musk’s already risky venture becomes even more complex with the release of the investor list. The platform, once a cornerstone of online discourse, now stands at a crossroads, and its future will likely be determined by the diverse and powerful interests of its newly revealed backers.