Elon Musk has invested roughly $1 billion in David Ellison’s Skydance, Semafor reported Thursday — 4 years after the Hollywood mogul’s billionaire father helped finance Musk’s takeover of the social media platform previously recognized as Twitter.
The funding was reported just over two weeks after Skydance accomplished its takeover of Warner Bros. Discovery — a deal that left the mixed Hollywood large with roughly $82.5 billion in debt as Ellison pursues billions in annual value financial savings.
Skydance board member Laurene Powell Jobs and other backers made fairness investments around the same time, according to the report.
Elon Musk has reportedly invested roughly $1 billion in Skydance, deepening his monetary ties to the Ellison household. Getty Images
The article did not specify the measurement of Musk’s possession stake or whether he acquired a board seat or other governance rights.
The funding deepens Musk’s enterprise ties to the household of Oracle co-founder Larry Ellison, who has publicly described the Tesla boss as a shut buddy.
Ellison’s belief dedicated $1 billion to Musk’s 2022 takeover of Twitter — roughly matching the quantity the billionaire is now reported to have invested in his son’s media empire.
The 82-year-old tech mogul also made a main funding in Tesla in 2018 and served on the electric-car maker’s board until 2022.
Larry Ellison and an related belief assured $45.72 billion in funds and other monetary obligations tied to his son’s Warner Bros. Discovery takeover, which closed Oct. 6, according to securities filings.
David Ellison’s Skydance accomplished its acquisition of Warner Bros. Discovery on Oct. 6. AFP via Getty Images
Ellison also pledged shares in Oracle, Tesla and SpaceX, among other holdings, as collateral for financial institution loans used to assist finance the acquisition, the Wall Street Journal reported Wednesday.
The Warner deal added CNN, HBO and Warner Bros. to Skydance’s portfolio, which already included CBS and Paramount+.
The mixed firm would have carried about $82.5 billion in debt against $7.9 billion in money as of June 30, according to monetary statements filed with the Securities and Exchange Commission.
Ellison is focusing on at least $6 billion in annualized value financial savings within three years of the Warner takeover.
Oracle co-founder Larry Ellison dedicated $1 billion to Elon Musk’s 2022 takeover of Twitter. Bloomberg via Getty Images
Ellison has also touted the use of synthetic intelligence to make productions more environment friendly, even as the firm pledges to launch at least 30 theatrical movies yearly and produce more than 180 tv exhibits.
“We are a big believer that artificial intelligence is a tool for artists, not the other way around,” Ellison said in a CNBC interview earlier this month.
Skydance’s sprawling media portfolio now contains CBS, CNN, HBO, Paramount+ and Warner Bros. AP Photo/Yuki Iwamura
Billionaire cable mogul John Malone recommended Tuesday that Skydance could finally strike a distribution deal with Musk’s Starlink satellite tv for pc community, although no settlement has been announced.
“He’s gonna have to re-engineer all of those channels, and figure out how they morph into streams themselves rather than just traditional linear,” Malone said during an look at the Paley Center.
“I think there’s a deal coming there,” he added.
No Starlink distribution settlement or further SpaceX funding has been confirmed.
Neither Musk nor Paramount instantly responded to The Post’s requests for remark.