diff --git a/src/languages/en.ts b/src/languages/en.ts
index 96e2e99824cd..68af6ec2341d 100755
--- a/src/languages/en.ts
+++ b/src/languages/en.ts
@@ -561,19 +561,19 @@ export default {
         splitAmount: ({amount}: SplitAmountParams) => `split ${amount}`,
         didSplitAmount: ({formattedAmount, comment}: DidSplitAmountMessageParams) => `split ${formattedAmount}${comment ? ` for ${comment}` : ''}`,
         amountEach: ({amount}: AmountEachParams) => `${amount} each`,
-        payerOwesAmount: ({payer, amount}: PayerOwesAmountParams) => `${payer} owes ${amount}`,
+        payerOwesAmount: ({payer, amount}: PayerOwesAmountParams) => `${payer ? `${payer} ` : ''}owes ${amount}`,
         payerOwes: ({payer}: PayerOwesParams) => `${payer} owes: `,
-        payerPaidAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer} paid ${amount}`,
+        payerPaidAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer ? `${payer} ` : ''}paid ${amount}`,
         payerPaid: ({payer}: PayerPaidParams) => `${payer} paid: `,
-        payerSpentAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer} spent ${amount}`,
+        payerSpentAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer ? `${payer} ` : ''}spent ${amount}`,
         payerSpent: ({payer}: PayerPaidParams) => `${payer} spent: `,
         managerApproved: ({manager}: ManagerApprovedParams) => `${manager} approved:`,
         payerSettled: ({amount}: PayerSettledParams) => `paid ${amount}`,
         waitingOnBankAccount: ({submitterDisplayName}: WaitingOnBankAccountParams) => `started settling up, payment is held until ${submitterDisplayName} adds a bank account`,
         settledAfterAddedBankAccount: ({submitterDisplayName, amount}: SettledAfterAddedBankAccountParams) =>
             `${submitterDisplayName} added a bank account. The ${amount} payment has been made.`,
-        paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer} paid ${amount} elsewhere`,
-        paidWithExpensifyWithAmount: ({payer, amount}: PaidWithExpensifyWithAmountParams) => `${payer} paid ${amount} using Expensify`,
+        paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer ? `${payer} ` : ''}paid ${amount} elsewhere`,
+        paidWithExpensifyWithAmount: ({payer, amount}: PaidWithExpensifyWithAmountParams) => `${payer ? `${payer} ` : ''}paid ${amount} using Expensify`,
         noReimbursableExpenses: 'This report has an invalid amount',
         pendingConversionMessage: "Total will update when you're back online",
         changedTheRequest: 'changed the request',
diff --git a/src/languages/es.ts b/src/languages/es.ts
index 3f8f68977549..f298839b05b8 100644
--- a/src/languages/es.ts
+++ b/src/languages/es.ts
@@ -553,19 +553,19 @@ export default {
         splitAmount: ({amount}: SplitAmountParams) => `dividir ${amount}`,
         didSplitAmount: ({formattedAmount, comment}: DidSplitAmountMessageParams) => `dividió ${formattedAmount}${comment ? ` para ${comment}` : ''}`,
         amountEach: ({amount}: AmountEachParams) => `${amount} cada uno`,
-        payerOwesAmount: ({payer, amount}: PayerOwesAmountParams) => `${payer} debe ${amount}`,
+        payerOwesAmount: ({payer, amount}: PayerOwesAmountParams) => `${payer ? `${payer} ` : ''}debe ${amount}`,
         payerOwes: ({payer}: PayerOwesParams) => `${payer} debe: `,
-        payerPaidAmount: ({payer, amount}: PayerPaidAmountParams) => `${payer} pagó ${amount}`,
+        payerPaidAmount: ({payer, amount}: PayerPaidAmountParams) => `${payer ? `${payer} ` : ''}pagó ${amount}`,
         payerPaid: ({payer}: PayerPaidParams) => `${payer} pagó: `,
-        payerSpentAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer} gastó ${amount}`,
+        payerSpentAmount: ({payer, amount}: PayerPaidAmountParams): string => `${payer ? `${payer} ` : ''}gastó ${amount}`,
         payerSpent: ({payer}: PayerPaidParams) => `${payer} gastó: `,
         managerApproved: ({manager}: ManagerApprovedParams) => `${manager} aprobó:`,
         payerSettled: ({amount}: PayerSettledParams) => `pagó ${amount}`,
         waitingOnBankAccount: ({submitterDisplayName}: WaitingOnBankAccountParams) => `inicio el pago, pero no se procesará hasta que ${submitterDisplayName} añada una cuenta bancaria`,
         settledAfterAddedBankAccount: ({submitterDisplayName, amount}: SettledAfterAddedBankAccountParams) =>
             `${submitterDisplayName} añadió una cuenta bancaria. El pago de ${amount} se ha realizado.`,
-        paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer} pagó ${amount} de otra forma`,
-        paidWithExpensifyWithAmount: ({payer, amount}: PaidWithExpensifyWithAmountParams) => `${payer} pagó ${amount} con Expensify`,
+        paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer ? `${payer} ` : ''}pagó ${amount} de otra forma`,
+        paidWithExpensifyWithAmount: ({payer, amount}: PaidWithExpensifyWithAmountParams) => `${payer ? `${payer} ` : ''}pagó ${amount} con Expensify`,
         noReimbursableExpenses: 'El importe de este informe no es válido',
         pendingConversionMessage: 'El total se actualizará cuando estés online',
         changedTheRequest: 'cambió la solicitud',
diff --git a/src/libs/OptionsListUtils.js b/src/libs/OptionsListUtils.js
index b97ae6daed11..14bee6e79776 100644
--- a/src/libs/OptionsListUtils.js
+++ b/src/libs/OptionsListUtils.js
@@ -9,6 +9,7 @@ import _ from 'underscore';
 import CONST from '@src/CONST';
 import ONYXKEYS from '@src/ONYXKEYS';
 import * as CollectionUtils from './CollectionUtils';
+import * as CurrencyUtils from './CurrencyUtils';
 import * as ErrorUtils from './ErrorUtils';
 import * as LocalePhoneNumber from './LocalePhoneNumber';
 import * as Localize from './Localize';
@@ -372,6 +373,40 @@ function getAllReportErrors(report, reportActions) {
     return allReportErrors;
 }
 
+/**
+ * Get the preview message to be displayed in the option list.
+ *
+ * @param {Object} report
+ * @param {Object} reportAction
+ * @param {Boolean} [isPreviewMessageForParentChatReport]
+ * @returns {String}
+ */
+function getReportPreviewMessageForOptionList(report, reportAction, isPreviewMessageForParentChatReport = false) {
+    // For the request action preview we want to show the requestor instead of the user who owes the money
+    if (!isPreviewMessageForParentChatReport && reportAction.originalMessage && reportAction.originalMessage.type === CONST.IOU.REPORT_ACTION_TYPE.CREATE) {
+        const amount = Math.abs(reportAction.originalMessage.amount);
+        const formattedAmount = CurrencyUtils.convertToDisplayString(amount, report.currency);
+        const shouldShowActorName = currentUserAccountID !== reportAction.actorAccountID;
+        const actorDisplayName = shouldShowActorName ? `${ReportUtils.getDisplayNameForParticipant(reportAction.actorAccountID, true)}: ` : '';
+
+        return `${actorDisplayName}${Localize.translateLocal('iou.requestedAmount', {formattedAmount})}`;
+    }
+
+    const shouldShowWorkspaceName = ReportUtils.isExpenseReport(report) && isPreviewMessageForParentChatReport;
+    const actorID = report.managerID || reportAction.actorAccountID;
+    const actor = ReportUtils.getActorNameForPreviewMessage({
+        report,
+        shouldShowWorkspaceName,
+        actorID,
+        shouldUseShortForm: !isPreviewMessageForParentChatReport,
+    });
+    const shouldShowActorName = shouldShowWorkspaceName || isPreviewMessageForParentChatReport || currentUserAccountID !== actorID;
+    const actorDisplayName = shouldShowActorName && actor ? `${actor}${isPreviewMessageForParentChatReport ? ' ' : ': '}` : '';
+    const message = ReportUtils.getReportPreviewMessage(report, reportAction, true, isPreviewMessageForParentChatReport, true);
+
+    return `${actorDisplayName}${message}`;
+}
+
 /**
  * Get the last message text from the report directly or from other sources for special cases.
  * @param {Object} report
@@ -383,7 +418,7 @@ function getLastMessageTextForReport(report) {
     const lastActionName = lodashGet(lastReportAction, 'actionName', '');
 
     if (ReportActionUtils.isMoneyRequestAction(lastReportAction)) {
-        const properSchemaForMoneyRequestMessage = ReportUtils.getReportPreviewMessage(report, lastReportAction, true);
+        const properSchemaForMoneyRequestMessage = getReportPreviewMessageForOptionList(report, lastReportAction, false);
         lastMessageTextFromReport = ReportUtils.formatReportLastMessageText(properSchemaForMoneyRequestMessage);
     } else if (ReportActionUtils.isReportPreviewAction(lastReportAction)) {
         const iouReport = ReportUtils.getReport(ReportActionUtils.getIOUReportIDFromReportActionPreview(lastReportAction));
@@ -394,7 +429,7 @@ function getLastMessageTextForReport(report) {
                 reportAction.pendingAction !== CONST.RED_BRICK_ROAD_PENDING_ACTION.DELETE &&
                 ReportActionUtils.isMoneyRequestAction(reportAction),
         );
-        lastMessageTextFromReport = ReportUtils.getReportPreviewMessage(iouReport, lastIOUMoneyReport, true, ReportUtils.isChatReport(report));
+        lastMessageTextFromReport = getReportPreviewMessageForOptionList(iouReport, lastIOUMoneyReport, ReportUtils.isChatReport(report));
     } else if (ReportActionUtils.isReimbursementQueuedAction(lastReportAction)) {
         lastMessageTextFromReport = ReportUtils.getReimbursementQueuedActionMessage(lastReportAction, report);
     } else if (ReportActionUtils.isDeletedParentAction(lastReportAction) && ReportUtils.isChatReport(report)) {
@@ -411,7 +446,10 @@ function getLastMessageTextForReport(report) {
     ) {
         lastMessageTextFromReport = lodashGet(lastReportAction, 'message[0].text', '');
     } else {
-        lastMessageTextFromReport = report ? report.lastMessageText || '' : '';
+        const shouldShowLastActor =
+            ReportUtils.isThread(report) && (ReportUtils.isExpenseReport(report) || ReportUtils.isIOUReport(report)) && currentUserAccountID !== report.lastActorAccountID;
+        const lastActorDisplayName = shouldShowLastActor ? `${ReportUtils.getDisplayNameForParticipant(report.lastActorAccountID, true)}: ` : '';
+        lastMessageTextFromReport = report ? `${lastActorDisplayName}${report.lastMessageText}` : '';
     }
     return lastMessageTextFromReport;
 }
diff --git a/src/libs/ReportUtils.js b/src/libs/ReportUtils.js
index 2e91a93af7e1..3deed6ec6a70 100644
--- a/src/libs/ReportUtils.js
+++ b/src/libs/ReportUtils.js
@@ -1831,17 +1831,39 @@ function getTransactionReportName(reportAction) {
     });
 }
 
+/**
+ * Get actor name to display in the message preview
+ *
+ * @param {Object} report
+ * @param {Number} actorID
+ * @param {Boolean} [shouldShowWorkspaceName]
+ * @param {Boolean} [shouldUseShortForm]
+ * @param {Object|undefined} [policy]
+ * @returns {String}
+ */
+function getActorNameForPreviewMessage({report, actorID, shouldShowWorkspaceName = false, shouldUseShortForm = false, policy = undefined}) {
+    return shouldShowWorkspaceName ? getPolicyName(report, false, policy) : getDisplayNameForParticipant(actorID, shouldUseShortForm);
+}
+
 /**
  * Get money request message for an IOU report
  *
  * @param {Object} report
  * @param {Object} [reportAction={}] This can be either a report preview action or the IOU action
  * @param {Boolean} [shouldConsiderReceiptBeingScanned=false]
- * @param {Boolean} isPreviewMessageForParentChatReport
+ * @param {Boolean} [isPreviewMessageForParentChatReport]
+ * @param {Boolean} [shouldHideParticipantName]
  * @param {Object} [policy]
  * @returns  {String}
  */
-function getReportPreviewMessage(report, reportAction = {}, shouldConsiderReceiptBeingScanned = false, isPreviewMessageForParentChatReport = false, policy = undefined) {
+function getReportPreviewMessage(
+    report,
+    reportAction = {},
+    shouldConsiderReceiptBeingScanned = false,
+    isPreviewMessageForParentChatReport = false,
+    shouldHideParticipantName = false,
+    policy = undefined,
+) {
     const reportActionMessage = lodashGet(reportAction, 'message[0].html', '');
 
     if (_.isEmpty(report) || !report.reportID) {
@@ -1865,7 +1887,14 @@ function getReportPreviewMessage(report, reportAction = {}, shouldConsiderReceip
     }
 
     const totalAmount = getMoneyRequestReimbursableTotal(report);
-    const payerName = isExpenseReport(report) ? getPolicyName(report, false, policy) : getDisplayNameForParticipant(report.managerID, true);
+    const payerDisplayName = getActorNameForPreviewMessage({
+        report,
+        actorID: report.managerID,
+        shouldUseShortForm: true,
+        shouldShowWorkspaceName: isExpenseReport(report),
+        policy,
+    });
+    const payerName = shouldHideParticipantName ? '' : payerDisplayName;
     const formattedAmount = CurrencyUtils.convertToDisplayString(totalAmount, report.currency);
 
     if (isReportApproved(report) && getPolicyType(report, allPolicies) === CONST.POLICY.TYPE.CORPORATE) {
@@ -1925,7 +1954,11 @@ function getProperSchemaForModifiedExpenseMessage(newValue, oldValue, valueName,
     if (!newValue) {
         return Localize.translateLocal('iou.removedTheRequest', {valueName: displayValueName, oldValueToDisplay});
     }
-    return Localize.translateLocal('iou.updatedTheRequest', {valueName: displayValueName, newValueToDisplay, oldValueToDisplay});
+    return Localize.translateLocal('iou.updatedTheRequest', {
+        valueName: displayValueName,
+        newValueToDisplay,
+        oldValueToDisplay,
+    });
 }
 
 /**
@@ -1940,7 +1973,10 @@ function getProperSchemaForModifiedExpenseMessage(newValue, oldValue, valueName,
 
 function getProperSchemaForModifiedDistanceMessage(newDistance, oldDistance, newAmount, oldAmount) {
     if (!oldDistance) {
-        return Localize.translateLocal('iou.setTheDistance', {newDistanceToDisplay: newDistance, newAmountToDisplay: newAmount});
+        return Localize.translateLocal('iou.setTheDistance', {
+            newDistanceToDisplay: newDistance,
+            newAmountToDisplay: newAmount,
+        });
     }
     return Localize.translateLocal('iou.updatedTheDistance', {
         newDistanceToDisplay: newDistance,
@@ -3391,6 +3427,7 @@ function canAccessReport(report, policies, betas, allReportActions) {
 
     return true;
 }
+
 /**
  * Check if the report is the parent report of the currently viewed report or at least one child report has report action
  * @param {Object} report
@@ -4531,6 +4568,7 @@ export {
     getPersonalDetailsForAccountID,
     getChannelLogMemberMessage,
     getRoom,
+    getActorNameForPreviewMessage,
     shouldDisableWelcomeMessage,
     canEditWriteCapability,
 };
diff --git a/src/libs/SidebarUtils.ts b/src/libs/SidebarUtils.ts
index 763a0000ba35..c3312ebebae9 100644
--- a/src/libs/SidebarUtils.ts
+++ b/src/libs/SidebarUtils.ts
@@ -406,7 +406,8 @@ function getOptionData(
               }
             : null;
     }
-    const lastActorDisplayName = hasMultipleParticipants && lastActorDetails?.accountID && Number(lastActorDetails.accountID) !== currentUserAccountID ? lastActorDetails.displayName : '';
+    const lastActorDisplayName =
+        hasMultipleParticipants && lastActorDetails?.accountID && Number(lastActorDetails.accountID) !== currentUserAccountID ? lastActorDetails.displayName?.split(' ')[0] : '';
     let lastMessageText = lastMessageTextFromReport;
 
     const reportAction = lastReportActions?.[report.reportID];
diff --git a/src/libs/actions/Policy.js b/src/libs/actions/Policy.js
index ebc1cdf9a2e1..aa75b88859f1 100644
--- a/src/libs/actions/Policy.js
+++ b/src/libs/actions/Policy.js
@@ -1800,7 +1800,7 @@ function createWorkspaceFromIOUPayment(iouReport) {
         value: {
             [reportPreview.reportActionID]: {
                 ...reportPreview,
-                message: ReportUtils.getReportPreviewMessage(expenseReport, {}, false, false, newWorkspace),
+                message: ReportUtils.getReportPreviewMessage(expenseReport, {}, false, false, false, newWorkspace),
                 created: DateUtils.getDBTime(),
             },
         },