The CEO of the billion-dollar production house took over the historic Paramount Global in a $4.75 billion deal. Weeks after this deal, his father and Oracle co-founder Larry Ellison surpassed Elon Musk to become the richest person in the world. With an estimated net worth of $400 billion, Ellison made an overnight fortune as Oracle’s stock saw a 40% increase.
As the probe deepens into his luxurious lifestyle, his son, David Ellison’s, spending has come under the radar too. After signing a $7 billion deal for streaming rights for the Ultimate Fighting Championship (UFC), Ellison has also written up a deal with ‘Stranger Things’ producers and secured the rights to the ‘Call of Duty’ movie, reported Business Insider.
Who is David Ellison?
Currently valued at $17 billion, David Ellison runs the show behind the scenes. The founder of Skydance Media, the millionaire producer, has produced several Hollywood films such as Top Gun: Maverick (2022), Mission: Impossible series, Jack Reacher, and Star Trek Into Darkness. Also known for producing television series, ‘Jack Ryan’ and ‘Grace and Frankie’, he recently acquired Paramount Global, a major merger in the entertainment world.
Reportedly worth $520 million, David Ellison lives a lavish lifestyle and is even an accomplished acrobatic pilot. Married to actress and singer Sandra Lynn Modic, the 42-year-old producer is a University of Southern California film school dropout. He was quick to turn this around and became a celebrated producer in the field. However, he shared brief screen space in 2006 as he starred in the war drama, ‘Flyboys’, which was a major flop.
Best friends with his father was Steve Jobs, as per an NYT report. Backed by Larry Ellison’s money, he set up Skydance in 2006. Often described as “buying his way into Hollywood” by several people in the industry, the monopoly has often been looked down at. However, he has received overt support from actor Ben Affleck, another billionaire filmmaker, Tyler Perry, and ‘Grace & Frankie’ star Jane Fonda.
Asset diversification: From fashion to tech
David Ellison also launched his menswear line of luxury clothing, Lanai Collection. The retail brand came to light in 2014 and was named after his father’s Hawaiian island, worth nearly $600 million. Diversifying Skydance’s assets, Ellison also launched Skydance Sports, video game franchise, and a tech partnership with Chinese tech giant, Tencent. With several partnerships with Netflix and Apple TV+, Ellison also has a large share of revenue coming from such partnerships.
With his father’s $30 billion luxury car collection and real estate holdings across the US, the Ellison family has a strong venture fund machinery in place. He was reportedly gifted $200 million on his 25th birthday from his father, the richest man in the world.
