Elon Musk’s X Ordered to Reveal Investors in Court Filing
- A federal judge has mandated Elon Musk’s X to disclose its list of shareholders, revealing key investors in the $44 billion acquisition of the platform formerly known as Twitter. - The unsealed document lists nearly 100 entities, including prominent venture capitalists, entrepreneurs, and a fund linked to Sean 'Diddy' Combs. - Notable investors include Andreessen Horowitz, Saudi Prince Alwaleed bin Talal al Saud, Twitter founder Jack Dorsey, and 8VC co-founder Joe Lonsdale. - The court’s decision follows a motion by the Reporters Committee for Freedom of the Press, emphasizing public interest in knowing the stakeholders of such an influential platform. - Despite Musk’s efforts to revitalize X with new features and subscription options, the platform faces financial challenges, with some investors’ stakes significantly devalued. Source: [Washington Post](https://www.washingtonpost.com/technology/2024/08/21/elon-musk-x-investors/)
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Elon Musk says Twitter’s ad revenue has dropped by 50 percent
According to an estimate research firm Sensor Tower shared with Bloomberg, advertising spending fell by 89 percent to $7.6 million during a two-month period earlier this year. Per Reuters, Twitter has annual interest payments of about $1.5 billion due to the debt the company took on when Musk took it private for $44 billion. This is the latest sign the aggressive cost-cutting measures Musk has undertaken in the last year have not been enough to put the company on solid financial footing.
In the early hours of Saturday morning, Musk tweeted Twitter was suffering from an ongoing negative cash flow issue due to an approximately ...
https://www.engadget.com/elon-musk-says-twitters-ad-revenue-has-dropped-by-50-percent-202600398.html
