Elon Musk reportedly invests $1bn in David Ellison’s Skydance

Elon Musk gestures as he attends the Viva Technology conference at the Porte de Versailles exhibition centre in Paris, France, on 16 June 2023.Photograph: Gonzalo Fuentes/Reuters Elon Musk has reportedly invested approximately $1bn in Skydance, the new media empire led by David Ellison. The deal comes alongside fresh equity infusions from existing investors, including board member Laurene Powell Jobs, Steve Jobs's widow. Semafor first reported the news. The investment follows Paramount's recent $111bn merger with Warner Bros Discovery, a huge acquisition that brought the media companies together under the Skydance name. At the head of the new media empire is David Ellison, the son of billionaire Oracle co-founder and Donald Trump ally Larry Ellison.