Ari Emanuel’s Endeavor Group made a “small” investment in Twitter in mid-January, a source familiar with the matter confirmed to TheWrap.
Though the source did not mention how much much Endeavor invested or the price per share paid, they did note that the investment was not material to the publicly traded media company. Representatives for Endeavor and Twitter did not immediately respond to TheWrap’s requests for comment.
The investment, which was first reported by Axios, comes after Elon Musk acquired the social media giant for $44 billion in October.
Musk joined Endeavor’s board in 2021 following the company’s initial public offering, but resigned in March 2022. Additionally, Musk was spotted on a yacht with Emanuel and several others off the coast of Greece last year.
Musk did not buy Twitter alone: He lined up wealthy individuals like Larry Ellison and prominent venture capital firms including Andreessen Horowitz and Sequoia Capital to assist him in the buyout.
In addition, Twitter co-founder Jack Dorsey and Saudi Arabia’s Prince Alwaleed Bin Talal both rolled over their Twitter stakes after Musk’s deal closed and the company was taken private. Musk has reportedly been seeking other investors after completing the initial deal, and an infusion from Endeavor could be seen as an endorsement of his turnaround effort.