Elon Musk Backs Skydance With $1 Billion Equity Stake

The capital raise arrives at a critical juncture for co-CEOs David Ellison and Ynon Kreiz. Tasked with integrating two major film studios, competing streaming platforms, and sprawling news divisions, the leadership team has promised $6 billion in savings over the next three years. They face an uphill battle, however, with a debt burden currently hovering near $80 billion. Shares of the company dipped roughly 1% following the news.

This transaction deepens the financial ties between the Ellison family and the world's wealthiest individuals. Larry Ellison, the Oracle co-founder and father of David Ellison, has long served as a key ally to Musk, previously contributing $1 billion to the 2022 acquisition of X. The elder Ellison also played a central role in the current merger, personally guaranteeing more than $40 billion in equity financing for the deal. Neither Musk nor Skydance representatives have provided comment on the specific terms of this latest investment.