Elon Musk Invests $1 Billion in Skydance
The investment comes a day after John Malone predicted a much larger SpaceX deal with David Ellison's media giant The post Elon Musk Invests $1 Billion in Skydance appeared first on TheWrap .
Elon Musk reportedly invested $1 billion in Skydance, media mogul John Malone claimed that SpaceX could secure a multibillion-dollar deal with the company. Skydance is seeking to reduce costs and reinforce its financial footing after acquiring Warner Bros. Discovery, according to Semafor, citing anonymous sources familiar with the matter.
Skydance's representative did not respond to inquiries from TheWrap, while SpaceX has not provided any comment. John Malone, speaking at the Paley International Council Summit, predicted a $8 billion to $10 billion cross-investment deal and a potential global content distribution partnership between SpaceX and Skydance. It is unclear if Musk's investment was made personally or through SpaceX, or if a larger deal is in the works.
Malone mentioned a long-standing financial connection between Musk and the Ellison family, given that Larry Ellison, David Ellison's father, backed Musk's 2022 purchase of Twitter. Musk's investment is believed to have occurred around the same time as other equity investments from Skydance backers, including board member Laurene Powell Jobs.
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