Musk Invests $1 Billion in Ellison's Skydance

Elon Musk has invested about $1 billion in Skydance, according to people familiar with the matter, providing a much-needed capital injection to the company as it seeks to cut costs and boost its share price. The people said the deal was completed roughly at the same time as equity investments by other Skydance investors, including board member Laurene Powell Jobs. Earlier in September, reports said Paramount was considering seeking an equity investment from Musk.