David Ellison nets $150 million from Warner Bros. Discovery acquisition
Entertainment
David Ellison, chairman and CEO of Skydance, just scored $150 million from the massive $110 billion Warner Bros. Discovery acquisition.
This move brings big names like HBO and CNN under Skydance, pushing Ellison's net worth over $1 billion with a mix of cash and restricted stock.
Ellison launched Skydance with family backing
Ellison's fortune started with Oracle shares gifted by his dad, Larry Ellison (yes, the Oracle co-founder).
After a brief acting stint in Flyboys, he launched Skydance out of his passion for aviation.
Backed by family support, Skydance grew through deals with Paramount before landing this huge Warner Bros. Discovery win, even as the new company takes on $80 billion in debt and looks to save $6 billion along the way.