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# Your Evening News

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### **Inspirational Quote **

“"Leave the gun. Take the cannoli."“ — Peter Clemenza, "The Godfather"

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# The Latest News

### **Elon Musk's X Corp. Forced to Reveal Secret List of Shareholders**

In a significant victory for transparency and free speech, a federal court has compelled Elon Musk's X Corp., the parent company of Twitter, to disclose its list of shareholders. The unsealed document, released Wednesday evening, reveals a who's who of high-profile investors, including entities linked to Sean "Diddy" Combs, Bill Ackman, Larry Ellison, and Marc Andreessen.

The lawsuit that led to this disclosure was filed by former Twitter employees who accused Musk of breaching their arbitration agreements by failing to pay them certain fees after he purchased the platform for a whopping $44 billion. The list of nearly 100 groups with a stake in the company also includes Saudi Prince Alwaleed bin Talal al Saud, his investment vehicle, Kingdom Holding Company, and Twitter founder Jack Dorsey.

X Corp. had resisted disclosing the names of its stakeholders, claiming in a corporate disclosure statement that "[n]o publicly held corporation owns 10% or more" of its stock without identifying specific entities. However, a journalist and the Reporters Committee for Freedom of the Press intervened in the case, arguing that "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."

U.S. District Judge Susan Illston ultimately ruled in favor of transparency, finding that "There's no scandalous information or trade secrets in the disclosure." The court's decision was likely influenced by X Corp.'s actions, as it had previously removed the case from state to federal court, where specific rules require the disclosure of entities with a financial stake in the litigation.

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Have a great night!
_Sam Bennett_

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