X Investors Full List Disclosure How Musk Saves valuation Falls 75%

Written by: 0xjs@Bitchain Vision

Since Musk spent $44 billion to acquire Twitter (later renamed X) in 2022 and privatized and delisted, the public has been curious about who else X’s other shareholders besides Musk.

According to the order of U.S. District Judge Susan Illston, the complete list of shareholders of social media giant X, the parent company of social media giant X, was recently disclosed for the first time.The information was disclosed in response to a July motion filed by Jacob Silverman, a tech journalist representing the nonprofit Free Press Committee.The motion aims to disclose a list of shareholders.The list is part of another legal case in 2023, filed by several former investors.They claimed that their arbitration agreement was violated after Elon Musk acquired the company for $44 billion in October 2022.

X’s lawyers initially filed the list with the court in June 2023 and were not released until this week, according to court-disclosed documents.

Source: https://www.documentcloud.org/documents/25057281-elon-musk-x-co-owners-court-filing

According to public information, as of October last year, Musk held 75% of X’s shares, and none of the other shareholders held more than 10%.

Who are X investors

According to documents released by the federal court, there are 95 entities on X’s complete shareholder list.However, the document only provides a list of shareholders and does not provide specific details of the shareholding.

In addition to Musk, these investors include:

Saudi Arabia’s royal prince Alwaleed bin Talal al Saud and its Kingdom Holding Co.;Cryptocurrency Company Binance;Pershing Plaza, owned by billionaire Bill Ackman; Sports and media organization IMG; venture capital firmsAndreessen Horowitz, ARK, Sequoia Capital, Baron, DFJ and 8VCand other related funds,Oracle Co-founder Larry Ellison Trust and Twitter Co-founder and former CEO Jack Dorsey; Rapper Sean “Diddy” Combs related entities, etc.;

and at least 27 shareholders are different investment vehicles related to Boston-based mutual fund company and brokerage firm Fidelity Investments, which X listed only one Fidelity entity as co-owner in 2022;

The full list of X shareholders is as follows:

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 Institutional Asset Management Trust Company as Trustee
Fidelity Blue Chip Growth Commingled Pool By: Fidelity Management Trust Company, as Trustee
Fidelity Blue Chip Growth Institutional Trust By its manager Fidelity Investments Canada ULC
Fidelity Canadian Growth Company Fund by its manager Fidelity Investments Canada 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 ULC:
Fidelity Global Innovators Investment Trust by its manager Fidelity Investments Canada ULC
Fidelity Growth Company Commingled Pool By: Fidelity Management Trust Company, as Trustee
Fidelity Insights Investment Trust By its manager Fidelity Investments Canada ULC
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 LLC
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

For the court’s public documents, please see: https://www.documentcloud.org/documents/25057281-elon-musk-x-co-owners-court-filing

In 2022, Musk and the above-mentioned investors spent $44 billion to acquire Twitter (later renamed X). Fidelity said this year that X’s market value has fallen by about 75% since Musk’s acquisition.

One of the worst acquisition deals on Wall Street

The Wall Street Journal said Musk’s acquisition of Twitter was disastrous, and its loans to acquire Twitter have become the worst merger and acquisition financing deal for banks since the 2008-2009 financial crisis.

According to public information, seven banks participated in the 2022 deal to acquire and privatize Twitter, including Morgan Stanley, Bank of America, Barclays and four other large banks, which provide Musk’s holding companies with the offerAbout $13 billion in loans.

Typically, banks that provide cash loans for acquisitions often try to quickly sell their debt to other investors in order to remove it from their balance sheets.But that didn’t happen in the Twitter deal.These banks cannot sell these debts without experiencing huge losses.This is mainly because Twitter has a very bad financial situation and they have never found anyone willing to buy the creditor’s claims.This means they are carrying the worst “pending” loans ever, or stranded on the bank’s balance sheet.

Since Musk took over the social media, Twitter’s market value has dropped from $44 billion that Musk initially acquired to about $12.5 billion, a shrinking nearly 75%.

The Wall Street Journal reported that although these banks are currently collecting interest on Twitter loans normally, some banks are eager to move these non-performing loans down their balance sheets, so they can only silently reduce these hundreds of millions to billions of dollars in loans.Value processing.The bad deal on Twitter also caused some banks to drop their rankings on the investment banking rankings.Bank of America and Morgan Stanley were both taken away by JPMorgan Chase and Goldman Sachs, which did not provide loans to Musk’s acquisition of Twitter.

At the same time, the salaries of some bankers have also been affected by these loans.In 2023, the top investment bankers on Barclays’ M&A team were told that their compensation will be reduced by at least 40% from the previous year.Sources said Barclays had multiple pending deals that affected its overall performance, and Twitter loans were the largest of them.

Save X: Payment, Traffic and AI

As mentioned earlier, Twitter’s market value plummeted, and there are several reasons.

Part of this may be Musk’s behavior in X and his modifications to the many features of the website that are believed to cause user churn.While Musk was at Twitter CEO, the company’s relationship with advertisers has been tense, resulting in the loss of advertisers, and advertising is the source of most of its Twitter revenue.

X, on the other hand, is struggling between the high interest rates and poor revenues from the acquisition of loans.X is said to pay $1.5 billion in debt interest every year, which accounts for nearly a third of its $5 billion revenue even for Twitter before it was acquired.

Faced with the tragic situation of X, Musk is also seeking to save X’s valuation from three aspects: payment, traffic and AI.

Payment:The payment function is an important reason why Musk’s huge investment in acquiring Twitter.Musk has repeatedly expressed his desire to turn X into a universal application similar to WeChat.Data shows that X Payments, a subsidiary of X Payments, has obtained currency transfer licenses in 28 U.S. states, seeking to obtain licenses in all U.S. states by the end of 2024 and launch the X payment feature in the U.S.Musk’s ambitious goal is to make X the largest payment institution in the United States.X is very likely to support cryptocurrency payments in the future and may even launch its own dollar stablecoin.

flow:Needless to say, traffic.Musk himself has nearly 195 million fans on X. He is extremely active on X, posting various comments on various topics such as politics and economy, and trying his best to attract users to X.On August 13, 2024, Musk personally came to talk to Trump’s Twitter Space, with 1.3 million people online at the same time, and the total number of Space listens reached 270 million.

Of course, Musk’s traffic on X is a double-edged sword.”Musk maximizes the political value that X brings to him. In turn, people’s trust in X will be polarized.”

AI:Now humans have entered the AI era with one foot.Grok, the main product of Musk’s AI company xAI, has been integrated into X, and all X premium subscribers can currently use Grok robots for free.Grok can be said to have three goals in one go. It can not only activate users to convert them into X subscribers, but also allow users to use Grok to create content and spread it to bring more traffic. It can also use content produced by X users to train Grok AI models.