The ties between the Ellison family and Elon Musk grew even stronger recently. According to a report by Semafor, the world's richest man and the CEO of SpaceX (SPCX) and Tesla (TSLA) has purportedly invested $1 billion in Skydance (SKYD), the David Ellison-led media conglomerate formed after the merger of Paramount and Warner Bros.
Further clarity is needed, but former Chairman of the Board at Liberty Media Group, John Malone, has predicted that Musk's involvement with Skydance will not stop here. It will entail a total investment of about $10 billion, with Malone stating, "I predict — big prediction — that you’ll see a global output deal for Skydance with SpaceX, and an investment by SpaceX into Skydance, to de-lever Skydance and take a little bit of the burden off [Skydance CEO] David Ellison’s shoulders, because he’s taking on a pretty big pile of debt.”
