No one. There are now fewer shares outstanding. ie. before there were 10M shares outstanding which represents all the shares owned by employees founders invest

No one. There are now fewer shares outstanding. ie. before there were 10M shares outstanding which represents all the shares owned by employees founders investors etc, now (as an example, these are not real numbers) there are 8M shares outstanding because the Series A investors no longer have shares those shares are taken off the market by the cash.