The shareholders of X, owned by Elon Musk, were found to be connected to Russian oligarchs.

The connections of X's shareholders with Russian oligarchs Petr Olegovich Aven and Vadim Moshkovich, who are the owners of American billionaire Elon Musk, have raised curiosity, according to The Washington Post. The company's former investors and employees filed a lawsuit against the company, claiming that they did not receive their salaries, which resulted in the disclosure of the shareholders of the social media platform to the public. In July 2024, lawyers from the Committee to Protect Press Freedom, a non-profit organization, requested the court to disclose the shareholders of X on behalf of independent technology journalist Jacob Silverman. As a result, the court ordered X to share the complete list of its shareholders.

LIST OF APPROXIMATELY 100 SHAREHOLDERS DISCLOSED

As part of the court decision, X disclosed the names of approximately 100 shareholders. However, it is stated that many of them represent different funds controlled by the same company or individual. This list includes a number of individuals and companies, including Jack Dorsey, the co-founder and former CEO of Twitter at the time, Prince Al-Waleed bin Talal bin Abdulaziz Al Saud from the Saudi royal family, venture capital firm 8VC founded by Joe Lonsdale, the co-founder of Palantir Technologies, a software company that collects and processes people's data for use in intelligence, and investment firms such as Baron Opportunity Fund and Andreessen Horowitz.

X was previously associated with investors such as financial institution Fidelity. According to the list, approximately 30 different Fidelity-affiliated organizations are among X's shareholders. The list also includes American actor, producer, and rapper Sean Combs' investment company Sean Combs Capital, and famous snooker player Steve Davis.

RELATIONSHIP BETWEEN RUSSIAN OLIGARCHS AND X

Among these shareholders, venture capital firm 8VC, which is connected to Russian oligarchs Petr Olegovich Aven and Vadim Moshkovich through their sons, played a role in Musk's acquisition of Twitter at the time. The sons of Aven and Moshkovich, who were exposed to Western sanctions due to their relations with Russia's political elite, are also among the employees of 8VC, which is a US-based fund.

According to Forbes magazine, 8VC invests in companies that fulfill contracts for the US Department of Defense and NATO. However, Lonsdale, the founder of 8VC, argues that these family ties did not prevent these individuals from participating in Western business ventures. Lonsdale states that neither Jack Moshkovich nor Denis Aven are involved in their fathers' businesses or political relationships in Russia, despite their controversial pasts.

EXISTING RELATIONSHIP CREATES DOUBTS

Jack Moshkovich, the son of Vadim Moshkovich, started working at 8VC in 2018, and Denis Aven, the son of Petr Olegovich Aven, joined the company in 2022. The involvement of 8VC's personnel with Russian connections in Musk's acquisition of Twitter has attracted attention due to investigations into Russia's influence in global markets. The presence of the sons of Russian oligarchs Aven and Moshkovich in a prominent US venture capital firm raises questions about the extent of Russia's influence, especially in the technology sector, as Western countries try to isolate Russian elites and restrict their access to Western financial networks through sanctions. This new development regarding the financial support associated with X and Russia creates another confusion. Elon Musk, who became a controversial figure by expressing his political views more openly after acquiring X, supporting former President Donald Trump in the US presidential elections and targeting current President Joe Biden, is now facing a potential investigation due to his indirect relationship with the interests of the Russian oligarchy.

Musk, who claims that the platform is a critical tool for freedom of expression, is now under potential scrutiny due to his connection, albeit indirect, with the interests of the Russian oligarchy, while Western countries, especially those in the technology sector, try to reduce the power and influence of Russian oligarchs.