Skydance, led by David Ellison, has received an investment of approximately $1 billion from Elon Musk. Following its recent merger with Warner Bros. Discovery, the company is managing a debt load of nearly $87 billion.
The capital infusion gives Skydance financial support as it cuts costs and seeks to strengthen its finances. The news follows media mogul John Malone’s prediction of a potential multi-billion-dollar deal between Skydance and Musk’s SpaceX.
The investment also highlights Musk’s financial ties to the Ellison family. Oracle co-founder Larry Ellison, David Ellison’s father, was a key backer of Musk’s acquisition of Twitter, now known as X.