Elon Musk's investor list for X includes funds tied to Putin

Platform X (formerly Twitter) was forced by an American court to disclose its investors as part of a lawsuit filed by former employees. The list of investors who enabled Elon Musk to take over the platform includes a fund associated with Putin's oligarchs.

The Federal Court in California ordered X to disclose the list of investors. The list contains over a hundred entries. Among them are individuals known from the world of finance and show business. There is also a member of the Saudi Arabian royal family. However, one of the funds drew attention because it is connected to the sons of Russian oligarchs closely associated with Vladimir Putin.

Specifically, this involves the 8VC Opportunities Fund II. On the fund's website, in the staff section, Denis Aven and Jack Moszkowicz are listed—the sons of oligarchs Petr Aven and Vadim Moszkowicz. Petr Aven is a Russian billionaire and founder of Alfa Group, described as "one of Putin's main portfolios." He is subject to sanctions imposed on Russia and Russians due to the outbreak of the war in Ukraine.

Vadim Moszkowicz made his fortune in the agricultural industry and belongs to Putin's inner circle, which is why he has also been subjected to Western sanctions.

X—asked by "Fortune" magazine—did not comment on these reports. However, Joe Lonsdale, the founder of 8VC, did comment, considering it a response to an attack by left-wing media for "supporting Trump." Lonsdale was referring to a publication by "Forbes" magazine that described his fund's connections with the sons of Russian oligarchs.

In a post published on X, Lonsdale calls Jack Moszkowicz a "star" of the company. The businessman also refers to Vadim Moszkowicz, whom he calls a "successful agricultural leader in Russia" and a "superstar." "I know him and trust him," he added.

Denis Aven was allegedly hired by Lonsdale on Moszkowicz's recommendation because they have known each other since childhood. Both Aven and Moszkowicz declined to comment for the magazine's publication.

In its publication, "Forbes" points out that "there is no evidence indicating the fathers' involvement with the fund," yet "these reports come at a time when the US government is paying more attention to foreign connections in the tech industry."

"There is nothing illegal about hiring the son of someone who is sanctioned. But if you’re hiring the children of those who have a reasonable suspicion of supporting the Russian regime—even if they may have had private doubts at some point—you better exercise due diligence," Daniel Fried, former coordinator for sanctions policy at the State Department, told the magazine.

Guy Verhofstadt was among those who reacted to these reports, stating outright that "Putin's cronies helped Musk buy Twitter."

"This explains a lot: Musk's stance on Crimea, the refusal at one point to allow Ukraine to use Starlink, support for Trump. It's time for the USA to wake up!" he added.