According to a newly unsealed list of the platform's shareholders, the rapper/hip-hop mogul was one of the investors who helped Musk snag X for $44 billion in 2022.
- August 23, 2024
AceShowbiz - Elon Musk must be owing in part to Sean "P. Diddy" Combs after taking over control of one of the biggest social media platforms. The tech magnate is revealed to have received help from the rapper to acquire X, which was known then as Twitter.
In a newly unsealed list of the platform's shareholders, the now-embattled hip-hop mogul is named among around 100 entities as part owners. Diddy, under Sean Combs Capital, LLC, is listed as one of the investors alongside other big names like Bill Ackman, Saudi Prince Al Waleed bin Talal Al Saud and Twitter founder Jack Dorsey.
The fund is one of many linked to Combs, who has several business ventures in various industries. The disclosure doesn't say how much he invested in X and as of August 2024, it's not publicly known who still holds shares in the company.
The company unveiled the stakeholder list after it was ordered by a court to publicly share a list of its investors in a lawsuit seeking payment for arbitration-related expenses. The document, unsealed on Wednesday evening, August 21, gives a peek into the investors who funded Musk's $44 billion purchase of the social media platform.
X challenged having to publicly share the names of its stakeholders in the case. As part of the litigation, it filed a corporate disclosure statement saying that "[n]o publicly held corporation owns 10% or more" of its stock without identifying specific entities.
On Tuesday, U.S. District Judge Susan Illston found that there's no scandalous information or trade secrets in the disclosure, which was filed under seal in June.
Combs has been facing his own lawsuits, having been accused of sexual misconduct and sex trafficking by multiple people since late 2023. He has vehemently denied all allegations against him, but is reportedly still under investigation by the feds.
