Elon Musk has reportedly invested about USD 1 billion in Skydance, CNBC reported on Thursday, citing a person familiar with the deal. The investment comes after Skydance completed its USD 110 billion acquisition of Warner Bros. Discovery earlier this month. Neither Musk nor Skydance has confirmed the reported investment or shared details about the deal.
Skydance aims to build a stronger media business by combining entertainment, streaming and technology. David Ellison leads the company after the merger, which officially took place on October 6. The deal brings major film studios, streaming services and television networks under one company.
Skydance Plans Major Cost Cuts
Skydance now faces the challenge of combining the two businesses while managing costs and debt. The company reportedly aims to save around USD 6 billion over three years. These savings could involve changes across its studios, streaming services and television operations.
David Ellison wants to make Skydance a media company that uses technology to improve its business. Last month, he appointed former Mattel CEO Ynon Kreiz as co-CEO. Musk’s reported investment could help Skydance raise money as it works through these changes.
Musk Has Close Ties with the Ellison Family
The reported investment also highlights Musk’s long relationship with the Ellison family. Larry Ellison, co-founder of Oracle and father of David Ellison, previously supported Musk’s purchase of Twitter. In 2022, Larry Ellison committed USD 1 billion to help fund the deal, which later became X.
Larry Ellison also personally guaranteed more than USD 40 billion in equity financing during Paramount’s earlier bid for Warner Bros. Discovery. His past support adds context to Musk’s reported investment in Skydance.
However, important details remain unknown. Reports have not confirmed whether Musk invested personally or through SpaceX. The size of his ownership stake and any role in company decisions also remain unclear.
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