The ‘Elon Musk Effect': Endeavor Hopes New Board Member Will Bring IPO Gold

”Endeavor is no Disney — they’re not a brand name outside of Hollywood — so they need help getting investors’ attention,“ one industry watcher says

Billionaire tech entrepreneur Elon Musk, the newest board member at Ari Emanuel’s Endeavor Group Holdings Inc., brings a new kind of star power to the financially troubled entertainment conglomerate that could drive a successful IPO, experts say.

But it’s Musk’s cult appeal rather than his business acumen that Endeavor is banking on for its second IPO attempt, said David Offenberg, an associate professor of finance at Loyola Marymount University focusing on the entertainment business. “Elon Musk is arguably one of the greatest entrepreneurs that the world has ever known. Any company would be lucky to have him advising their CEO and executive team,” Offenberg said.

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Diane Haithman

Senior Entertainment Business Reporter • diane@thewrap.com • @dhaithman