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Elon Musk's X Corp. Forced to Reveal Star-Studded List of Shareholders

In a major victory for transparency, a federal court has compelled Elon Musk's X Corp. to disclose its list of shareholders, shedding light on the financial backers behind the social media giant.

The unsealed document, released Wednesday evening, reveals a veritable who's who of investors, including entities linked to hip-hop mogul Sean "Diddy" Combs, billionaire investor Bill Ackman, Oracle founder Larry Ellison, and venture capitalist Marc Andreessen. The list also includes Saudi Prince Alwaleed bin Talal al Saud, Twitter founder Jack Dorsey, and nearly 100 other groups with a stake in the company.

This bombshell disclosure results from a lawsuit filed by former Twitter employees alleging that Musk's X Corp. failed to pay them certain fees after acquiring the platform for $44 billion. The court's ruling marks a significant win for free speech advocates, who argued that the public has a right to know who's financing one of the world's most influential social media sites.

As part of its defense, X Corp. initially filed a corporate disclosure statement claiming that "[n]o publicly held corporation owns 10% or more" of its stock, without revealing specific entities. However, this attempt at secrecy was met with resistance from a journalist and the Reporters Committee for Freedom of the Press, who moved to intervene in the case.

"We believe there's a strong public interest in understanding the financial motives that shape free speech on one of the world's most-used social media sites," they argued.

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