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- October 23, 20269°
- BIST10010,985-2.10%
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- EUR55.70+0.05%
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- INTEREST36.00%-1.00
- BITCOIN81,682+0.45%
- October 23, 20269°
Elon Musk invests about $1 billion in David Ellison's Skydance, Semafor reports
Elon Musk has invested roughly $1 billion in Skydance, the media company led by David Ellison that recently took over Warner Bros. Discovery, Semafor reported, citing people familiar with the matter.
Elon Musk has invested roughly $1 billion in Skydance, the media company run by David Ellison, according to a Semafor report citing people familiar with the matter.
The investment gives the company a cash infusion as it works to cut costs and lift its stock price following its acquisition of Warner Bros. Discovery earlier this month. It closed around the same time as equity investments from other backers, including Skydance board member Laurene Powell Jobs.
David Ellison's father, Oracle co-founder Larry Ellison, personally guaranteed more than $40 billion of equity financing for the Warner Bros. deal. Larry Ellison also invested $1 billion in Musk's 2022 purchase of Twitter, now X, and served for years on Tesla's board.
Musk and Paramount did not respond to Semafor's requests for comment.
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