Musk puts $1bn into Skydance
October 23, 2026



Elon Musk has reportedly invested $1bn in Skydance. The cash infusion solidifies an alliance between two of Trump’s richest monetary backers – CEO of Skydance is David Ellison, son of major Trump backet Larry Ellison of Oracle.

Skydance co-CEOs Ellison and Ynon Kreiz, previously of Mattel, informed employees that the integration would involve layoffs, stating: “Integrating two companies will bring change, including difficult decisions that affect our workforce.”


The company’s leadership has set a target of more than $6bn in cost savings over the next three years, a goal that Los Angeles county officials estimate could lead to the loss of 4,500 film and television jobs in Los Angeles alone.

Prior to the merger, a coalition of 12 states, including California and New York, sued Paramount, arguing that the deal would “extinguish” competition and result in “higher prices, lower quality and less content for film and television”.