Musk invests roughly US$1 billion in Skydance, reports say
The reported investment comes as the media group targets US$6 billion in savings over three years following its Warner Bros. Discovery takeover.
Elon Musk has invested roughly US$1 billion in David Ellison’s media group Skydance, according to separate reports by Semafor and CNBC. Semafor cited people familiar with the matter, while CNBC attributed the figure to its own source.
Neither outlet received an immediate response from representatives for Musk or Skydance. TNW said it had not independently verified the deal. According to Semafor, Musk’s investment was arranged around the same time that other investors, including board member Laurene Powell Jobs, contributed new equity.
Paramount completed its acquisition of Warner Bros. Discovery on 6 October and adopted the Skydance name. The group is pursuing US$6 billion in savings over three years and has nearly US$80 billion in debt, CNBC reported.
Musk has longstanding ties to David Ellison’s father, Oracle co-founder Larry Ellison, who invested US$1 billion in Musk’s acquisition of Twitter in 2022. Larry Ellison also invested in Tesla in 2018 and served on its board. Semafor reported that he personally guaranteed more than US$40 billion of equity financing for the Warner Bros. transaction.
