Business
Musk invests $1bn in Skydance, Ellison's merged media empire
October 23, 2026 at 05:55 AM
Elon Musk has reportedly invested approximately $1 billion in Skydance, the company formed by Paramount's merger with Warner Bros. Discovery.
- Semafor reported that Musk's stake came alongside fresh equity infusions from investors including Laurene Powell Jobs.
- Skydance co-CEOs David Ellison and Ynon Kreiz said the merger would bring layoffs, citing "difficult decisions that affect our workforce."
- Skydance has committed to $6 billion in cost savings over the next three years across its studios and networks.