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Sean ‘Diddy’ Combs Revealed as Twitter/X Investor

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Following a federal lawsuit alleging that Elon Musk didn’t pay arbitration fees following the acquisition of Twitter/X, the corporate has been forced to reveal a listing of its shareholders, which incorporates entities linked to Sean “Diddy” Combs, Saudi Crown Prince Alwaleed bin Talal al Saud, as well as billionaire hedge fund manager Ackman and Oracle co-founder Larry Ellison.

According to the act that led to victory for the plaintiffs, it provides insight into who financed Musk’s October 2023 purchase of Twitter/X for $44 billion.

The company has in fact fought to hide the names of its investors, citing the indisputable fact that “no public company owns 10% or more,” however the journalist and the Reporters Committee for Freedom of the Press argued that Twitter/X’s position in the worldwide marketplace of ideas requires an understanding of the financial motives that potentially shape the platform.

In a court order ordering the social media platform to publish the list of uncensored names, the court said Twitter/X had put itself within the position it now finds itself in. However, the platform decided to maneuver the case to the federal court within the Northern District of California, which has rules about disclosing who has a financial interest in a lawsuit.

According to a federal judge, “here, respondents have offered little more than conjecture in support of their position,” the judge wrote. “The information statement contains no scandalous information or trade secrets. The court is unable to discern a factual basis for sealing the disclosure based on the record.”

According to Jacob Silverman, a journalist working with the Reporters Committee for Freedom of the Press, he said that it is vital for the general public to know who’s potentially influencing Twitter/X.

“It’s simply about transparency, disclosure, and free speech — on behalf of the public and the users of X,” Silverman said, before continuing: “It’s important for the public to know who owns the platform, who can influence its governance, and who Musk is accountable to.”

was the primary point of sale publish a full list of stakeholders and in keeping with their reports, a fund linked to Combs was among the many investors in Musk’s bid to purchase Twitter/X. They also noted that lots of the funds listed within the documents are controlled by the identical company or person. In addition to Combs and the Saudi crown prince, other investors include enterprise capital firm Andresson Horowitz, Twitter founder and former CEO Jack Dorsey, and 8VC, a enterprise capital firm founded by Joe Lonsdale, co-founder of intelligence contracting and data analytics platform Palantir.

By reporters Kate Conger and Ryan Mac detail the anecdote of their upcoming book as Musk tried to guarantee Revolt CEO Datavio Samuels that the rise in racist content wouldn’t discourage black users resulting from the rise in hate speech on the platform.

“I don’t know if you know, but Puff (one of Combs’ former aliases) is an investor in Twitter,” Musk told Samuels: “You know, he’s a good friend of mine. We text a lot.”

According to their report, financial services firm Fidelity Investments actually provides the clearest picture of the potential loss for individuals who invested in Musk’s Twitter/X purchase. The firm has reduced its initial valuation from $20 million to about $5.6 million, a lack of 71.5%.


This article was originally published on : www.blackenterprise.com

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