Musk reportedly invests $1B in Skydance

By Akash Pandey

Oct 23, 2026

10:22 am

What's the story

Elon Musk has invested around $1 billion in Skydance, a newly formed media company, Semafor reported. The investment comes after Paramount's $110 billion acquisition of Warner Bros. Discovery to form a new entity. The co-CEOs of the combined company, David Ellison and Ynon Kreiz, are working on unifying two major streaming services, Paramount+ and HBO Max, and several networks under one corporate roof.

Financial boost

Investment to help Skydance improve stock price

Musk's investment in Skydance came around the same time as equity contributions from other Skydance investors, including board member Laurene Powell Jobs.

The financial injection is expected to give a much-needed boost to the company as it looks to cut costs and improve its stock price.

Notably, Skydance has already committed to reducing costs by $6 billion over three years.

Personal connections

Musk's past connections with the Ellisons

Musk has publicly praised the Ellisons in the past and shares a close relationship with Larry Ellison, whom he appointed to Tesla's board of directors in 2018.

Larry invested $1 billion to assist Musk in buying Twitter (now X) in 2022 and had also invested in Tesla back in 2018.