Larry Ellison

Timeline

1. 2025-07-24Independent reports identified Larry Ellison as Trump's friend and allyRelationship described as ongoing through January 2026 reportingfriend and longtime ally · reported · 3 sources
2. 2025-09-25Trump approved a conditional TikTok U.S. divestiture frameworkFramework implemented through January 22, 2026 joint ventureally identified with proposed TikTok investor group · reported · 2 sources
3. 2025-12-10Gulf state funds supplied $24 billion of Paramount's initial WBD bid backingForeign fund governance rights surrendered; Affinity later withdrewclose Trump associate and financing guarantor for his son's media company · reported · 4 sources
   1. investmentForeign sovereign-fund bid financing$24,000,000,000

      Committed investor / source

      Saudi PIF, Qatar Investment Authority, and L'Imad Holding Company

      Committed investment recipient

      Paramount Skydance's Warner Bros. Discovery bid financing

4. 2025-12-22Paramount's WBD offer carried a $40.4 billion Ellison guaranteeOffer superseded by later revised bid and definitive agreementclose Trump associate and financing guarantor for his son's media company · documented · 2 sources
   1. commitmentLarry Ellison funding guarantee$40,400,000,000

      Committed by / source

      Larry Ellison

      Committed toward / intended recipient

      Paramount Skydance's Warner Bros. Discovery bid financing

   2. commitmentDecember cash offer per share$30 per share

      Committed by / source

      Paramount Skydance

      Committed toward / intended recipient

      Warner Bros. Discovery shareholders

   3. commitmentMaximum bridge-debt commitmentsup to $54,000,000,000

      Committed by / source

      Bridge-debt providers identified in the amended tender filing

      Committed toward / intended recipient

      Paramount Skydance's Warner Bros. Discovery bid financing

5. 2026-01-22TikTok U.S. venture established with three 15% managing investorsJoint venture establishedally led Oracle as it received TikTok stake · reported · 3 sources
   1. equityByteDance retained stake19.9% percent ownership

      Ownership holder / recipient

      ByteDance

   2. equityMGX managing stake15% percent ownership

      Ownership holder / recipient

      MGX

   3. equityOracle managing stake15% percent ownership

      Ownership holder / recipient

      Oracle

   4. equitySilver Lake managing stake15% percent ownership

      Ownership holder / recipient

      Silver Lake

6. 2026-02-10Revised WBD bid raised Ellison's operative guarantee to $44.6 billionRevised offer superseded by February 27 definitive agreementclose Trump associate and financing guarantor for his son's media company · documented · 2 sources
   1. commitmentRevised debt commitments$54,000,000,000

      Committed by / source

      Debt-commitment providers identified in Paramount's filing

      Committed toward / intended recipient

      Paramount Skydance's revised Warner Bros. Discovery bid financing

   2. commitmentRevised Ellison guarantee$44,600,000,000

      Committed by / source

      Larry Ellison

      Committed toward / intended recipient

      Paramount Skydance's revised Warner Bros. Discovery bid financing

7. 2026-02-27Larry Ellison guaranteed $45.72 billion of final merger considerationGuarantee effective for specified merger obligationsclose Trump associate and financing guarantor for his son's media company · documented · 2 sources
   1. commitmentGuaranteed merger consideration$45,720,000,000

      Committed by / source

      Larry Ellison and the Ellison Trust

      Committed toward / intended recipient

      Warner Bros. Discovery under merger agreement

8. 2026-02-27Paramount and WBD signed a $110 billion enterprise-value dealDefinitive agreement signed; closing contested and subject to conditionsclose Trump associate and financing guarantor for his son's media company · documented · 3 sources
   1. commitmentDefinitive cash price per share$31 per share

      Committed by / source

      Paramount Skydance

      Committed toward / intended recipient

      Warner Bros. Discovery shareholders

   2. commitmentAnnounced enterprise value$110,000,000,000

      Committed by / source

      Paramount Skydance financing sources

      Committed toward / intended recipient

      Warner Bros. Discovery security holders and creditors

9. 2026-06-12Justice Department closed its Paramount-WBD investigationFederal antitrust investigation closed; state challenge later filedclose Trump associate and financing guarantor for his son's media company · reported · 3 sources
10. 2026-07-22EU approval required divestiture of a concentrated advertising interestEuropean Commission conditional approval grantedclose Trump associate and financing guarantor for his son's media company · reported · 2 sources
11. 2026-07-24Twelve-state challenge bars Paramount-WBD closing pending a merits rulingClosing and integration barred until five days after a merits ruling or June 1, 2027close Trump associate and financing guarantor for his son's media company · reported · 3 sources

    12 statesState plaintiffs · 2026-07-20