Elon Musk to Join the Board of Endeavour Group

The company allowed Mr. Musk to serve as one director despite him stepping down as Tesla’s chairman in 2018 owing to an incident and settlement with the SEC board.

Elon Musk, the CEO of Tesla and Founder of SpaceX, Neuralink, and The Boring Company is all set to increase his hefty workload by joining the Endeavour Group Holdings’ board. A filing by the company on Wednesday stated that Musk has been nominated to be a part of the company’s board.

Endeavor, started by Ari Emanuel, one of Hollywood’s most recognizable agents, began as a talent agency. Now the company is an entertainment and media conglomerate that owns and manages live events like New York fashion week, Miami Open, the Miss Universe Beauty Pageant, etc.

Planning to go public, Endeavour now wants Musk, the world’s second-richest man to be a part of its 11-member directors’ board. The company allowed Mr. Musk to serve as one director despite him stepping down as Tesla’s chairman in 2018 owing to an incident and settlement with the SEC board.

That punishment stemmed from one of his tweets where he quoted that he is in consideration to take Tesla private. Endeavour added that there will be no restrictions on Musk’s abilities to serve on a company’s board as a director.

“Mr. Musk was selected to serve on our board of directors because of his professional background and experience running a public company, his previously held senior executive-level positions, his service on other public company boards, and his experience starting, growing, and integrating business,” a statement from Endeavour read.

Ari Emanuel, Tesla’s early proponent, and his family have a history of working with Musk, who is yet to be elected to the board. The Boring Company got a huge contract in 2018 during his sibling and Chicago’s 55th Mayor, Rahm Emanuel’s administration.

Musk was a guest on Joe Rogan’s podcast “The Joe Rogan Experience” that appeared in February. Rogan, who is also represented by Endeavour is a fan of UFC and worked for it as a broadcaster. 

Former President Donald Trump was once a client of Endeavor and the company purchased the Miss Universe pageant from him in 2015. The WWE talent company representing actors, athletes, and other celebs is also owned by Endeavour.

Endeavor filed for an IPO in 2019 but scrapped it the day before making it public, citing weak investor demand. The company’s revenue last year was more than $1 billion lower than the previous one, due to pandemic shutdowns.

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