Jewish billionaire David Ellison will earn a $5 million yearly salary as chairman and CEO of Skydance after completing the roughly $110 billion Warner Bros. Discovery takeover, bringing CNN, HBO and Warner Bros. into the same group as CBS and Paramount.
His new contract also sets a $5 million annual bonus target, although that payment is not guaranteed. Starting in 2027, he will be eligible for another $5 million a year in stock awards, with his employment agreement extended through August 2031.
The merger closed October 6, putting Ellison at the head of one of the world’s largest entertainment and news businesses. Forbes now estimates his personal fortune above $1 billion.