Semafor reported that Elon Musk invested approximately $1 billion in David Ellison’s Skydance Media. The investment is intended to provide financial support as the company manages a substantial debt load following its recent merger with Warner Bros. Discovery and pursues billions in cost savings.
The deal highlights Musk’s business ties to the Ellison family. David Ellison’s father, Oracle co-founder Larry Ellison, previously invested in Musk’s acquisition of X, formerly Twitter. Skydance’s stock experienced volatility after the report.