PANews reported on March 19 that according to Jinshi, Saudi Arabian investment company Kingdom Holding released its 2024 annual report, disclosing that a major shareholder of a private social media company recently invested at a transaction price equal to the book value of the investment on Kingdom's balance sheet, and that the shareholder was willing to purchase more minority stakes in the social media company at the same valuation. The report quoted sources as saying that the social media company referred to in the report is X, and the major shareholder is Musk. The report said that Musk used $150 million last year to increase his stake in X at a price close to what he paid when he acquired it in 2022. According to the ownership chart submitted to Nebraska regulators in October 2023, Musk owns nearly 74% of X.