Musk Invests About $1 Billion in Skydance, CNBC Reports: Stake Part of a Wider Equity Raise
Elon Musk has made a roughly $1 billion investment in Skydance, Reuters reported on October 22, citing a CNBC report based on a person familiar with the matter. Representatives for Skydance and Musk did not immediately respond to Reuters requests for comment.
Earlier this month, Paramount Skydance completed its $110 billion takeover of Warner Bros. Discovery, and the combined entity was named Skydance. President Trump told reporters earlier this month that it was "going to be a great company," expressing his approval of the merger.
Skydance is led by David Ellison, whose father, Oracle co-founder Larry Ellison, has a longstanding bond with Musk. In 2022, Larry Ellison committed $1 billion to fund Musk's purchase of Twitter, now X. "I'm very close friends with Elon Musk," the elder Ellison said in 2018. He also personally guaranteed over $40 billion in equity financing when Paramount offered to buy Warner Bros. Discovery.
Musk's commitment is part of a wider effort by Skydance to raise equity investments, according to Semafor, which first reported the news. David Ellison is positioning Skydance as a technology-driven media business and cutting costs; last month he named former Mattel CEO Ynon Kreiz as Skydance's co-CEO. Reuters noted that Musk has been rebuilding his ties with Trump.
Published by GSM · USA (original Chinese edition)
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