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Midnight Mania! Elon Musk to join Endeavor board of directors prior to IPO

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Welcome to Midnight Mania!

Elon Musk could really be a figurehead for Midnight Mania. The eccentric billionaire and Tesla CEO most definitely keeps it “weird and wild,” as his late-night tweets have shifted the stock market and earned him multi-million dollar fines in the past. Now, NY Post reports that Musk is joining the board of directors at Endeavor, the entertainment company which owns UFC.

In their filing, Endeavor explained the reason for recruiting Musk, citing his “professional background and experience running a public company” and “previously held senior executive-level positions, his service on other public company boards and his experience starting, growing and integrating businesses.”

In a move that is also related to a forthcoming initial public offering (IPO), The Post reports that Endeavor is looking to consolidate complete ownership of UFC, buying the remaining 20% stake. Buying 100% of the combat sports promotion and bringing Musk on board are surely moves to help bolster next month’s Endeavor IPO, which previously came to a halt back in September 2019 after low interest.

This will not be Musk’s first crossover into the world of MMA. He’s appeared at UFC events in the past, as well as been a guest on the Joe Rogan Experience podcast — to disastrous results! It remains to be seen how much influence Musk will have over the UFC, which may just be in need of some union-busting given recent fighter pay debate.

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