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Musk said to put about $1 billion into Ellison-led Skydance
Semafor, citing people familiar, said Elon Musk invested about $1 billion in David Ellison's Skydance, with other equity including from Laurene Powell Jobs. Musk and Paramount had not commented to Semafor.
Elon Musk has invested roughly $1 billion in Skydance, the media company led by David Ellison, Semafor reported Thursday, citing people familiar with the matter1.
Those people said the money came together with equity from other existing investors, including board member Laurene Powell Jobs1. Semafor said it had reported in September that Paramount was considering an equity injection from Musk1.
Semafor said Musk and Paramount did not immediately respond to requests for comment1. The Guardian, citing Semafor, said it had contacted Musk and Skydance.
The Guardian said the investment followed Paramount's combination with Warner Bros. Discovery, which it described as a $111 billion merger completed under the Skydance name. It said Skydance co-CEOs David Ellison and Ynon Kreiz told staff the integration would include workforce cuts, and that leadership has a target of more than $6 billion in cost savings over three years.