Paramount is looking for an injection of cash from a group of equity investors that could include Elon Musk, according to Semafor.
A new report, citing people familiar with the matter, states that executives have “discussed” asking the one-time trillionaire to join a “syndicate” of investors. Musk is apparently one of an unstated number of “wealthy individuals” that CEO David Ellison has considered for the group.
Musk and David Ellison’s father, Oracle founder Larry Ellison, have a longstanding relationship. The elder Ellison invested in Tesla in 2018, served on its board of directors, and backed Musk’s 2022 bid to take Twitter private with $1 billion.
A cash injection from Musk and other backers could ease the financial burden on Larry Ellison, who personally guaranteed more than $40 billion to finance Paramount’s $110 billion acquisition of Warner Bros. Discovery. Earlier this week, the proposed merger cleared one of its final major hurdles when Paramount reached a settlement with California and several other states.
A Paramount spokesperson declined Semafor’s request for comment, and Musk has yet to issue a public statement denying the report.
