Elon Musk Invests $1 Billion in Skydance

Elon Musk has invested roughly $1 billion in Skydance, a day after media mogul John Malone predicted that SpaceX could strike a multibillion-dollar deal with David Ellison’s media empire.

The investment comes as Skydance looks to cut costs and strengthen its financial position following its acquisition of Warner Bros. Discovery, Semafor reported Thursday, citing people familiar with the matter. A Skydance representative declined to comment to TheWrap, while SpaceX has not responded to a request for comment.

Speaking at the Paley International Council Summit Wednesday, Malone predicted that SpaceX could reach an agreement with Skydance involving $8 billion to $10 billion in cross-investment and a potential global content distribution partnership. It’s unclear whether Musk’s reported investment was made personally or through SpaceX, or whether a larger deal is in the works.

“I think there’s a deal coming there,” Malone said, pointing to the longstanding financial relationship between Musk and the Ellison family.

That connection runs through Oracle co-founder Larry Ellison, David Ellison’s father and a major financial backer of Skydance. The elder Ellison committed $1 billion to Musk’s 2022 acquisition of Twitter, now X, and previously served on Tesla’s board.

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