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. This list contains over a hundred entries, including individuals from the world of finance and show business and a Saudi Arabian royal family member. However, one particular fund drew significant attention: it involves the sons of Russian oligarchs closely associated with Vladimir Putin.
Specifically, this is about the 8VC Opportunities Fund II. On the fund’s website, Denis Aven and Jack Moszkowicz are listed in the staff section. They are the sons of oligarchs Petr Aven and Vadim Moszkowicz. Petr Aven, a Russian billionaire and founder of Alfa Group, is described as “one of Putin’s main portfolios.” He is subject to sanctions imposed on Russia due to the war in Ukraine.
Vadim Moszkowicz made his fortune in the agricultural industry and is part of Putin’s inner circle, which is why he has also been subjected to Western sanctions.
Revenge for supporting Trump
X did not comment on these reports when asked by Fortune magazine. 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 an article published by Forbes magazine describing his fund’s connections with the sons of Russian oligarchs.
In a post published on X, Lonsdale called Jack Moszkowicz a “star” of the company. He also referred to Vadim Moszkowicz as a “successful agricultural leader in Russia” and a “superstar.” “I know him and trust him,” he added.
Lonsdale reportedly hired Denis Aven on Moszkowicz’s recommendation, as they have known each other since childhood. Both Aven and Moszkowicz declined to comment for the magazine’s article.
In its publication, “Forbes” noted that “there is no evidence indicating the fathers’ involvement with the fund” but also mentioned that “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.
