Earlier this year, Ari Emanuel, the legendary agent who is CEO of Endeavor, led the company’s small investment in Twitter, just a few months after it was acquired by his friend and mega-billi…
The size of Endeavor’s investment stake in Twitter could not be learned. Endeavor invested in Twitter in mid-January, as first
by Axios. Musk has been seeking outside funding for the cash-strapped social network to help pay off the debt he incurred in swinging the $44 billion deal.Emanuel reportedly got involved in the dispute between Twitter’s board and Musk over the latter’s attempt to scrap the deal. Emanuel had reached out to Twitter board member Egon Durban to suggest the social network work with Musk to “find a solution” to their legal fight ahead of a trial that had been scheduled to begin in October. Musk and Twitter’s board eventually came to an agreement to close the transaction.
Emanuel has ties to both Durban and Musk. Durban, co-CEO of tech investment firm Silver Lake, currently sits on Endeavor’s board. Musk had been on Endeavor’s board of directors before resigning in March 2022. Since Musk took over Twitter, he has dramatically slashed the company’s workforce to reduce costs. The company had about 7,500 employees when Musk took over, and it is now estimated to have fewer than 2,000. Musk also has tried to drive up subscription revenue through Twitter Blue, which will become the only way individuals will be verified on the service going forward.
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