Lates News

According to Semafor, citing people familiar with the matter, Musk has invested approximately $1 billion in Skydance (SKYD.N, formerly Paramount Global), providing funding support for the company to cut costs and boost its share price. The investment was made roughly around the same time as capital injections from other investors, including board member Laurene Powell Jobs. Musk and Paramount did not immediately respond. The report said Paramount CEO David Ellison had been considering partnering with a number of wealthy investors. Musk is close to Oracle founder Larry Ellison; Larry Ellison has guaranteed more than $40 billion in equity financing for Paramount's acquisition of Warner Bros. Larry Ellison had also previously invested $1 billion in Musk's $44 billion deal to acquire Twitter and take it private in 2022.