Saudi Arabia, Abu Dhabi and Qatar Pledge $24bn to Back Ellison Family’s Paramount Skydance Deal

Late 2025 and early 2026, Saudi Arabia, Abu Dhabi, and Qatar collectively committed $24 billion to support the Ellison family’s Paramount Skydance hostile bid for Warner Bros. Discovery (WBD), marking one of the largest proposed foreign-backed investments in U.S. media history.

The financing package was reportedly anchored by major Gulf sovereign wealth funds. Saudi Arabia’s Public Investment Fund pledged $12 billion, while Abu Dhabi-based L’imad Holding committed $7 billion. Qatar’s Qatar Investment Authority also pledged $7 billion, bringing the total Gulf commitment to $24 billion.

To address potential regulatory concerns in Washington, particularly scrutiny from the Committee on Foreign Investment in the United States (CFIUS), the sovereign funds reportedly agreed to take a passive investment role. This arrangement would see them forgo governance rights, including board representation and voting power, to reduce concerns about foreign influence over a major American media company.

The overall proposed acquisition of Warner Bros. Discovery has been valued at approximately $110 to $111 billion, including the assumption of the company’s significant debt obligations. In addition to Gulf funding, the bid has been backed by Larry Ellison, who is said to have pledged between $40 and $45 billion in personal resources. Other financial supporters include RedBird Capital Partners and Affinity Partners, the investment firm founded by Jared Kushner.

As of March 2026, however, it remains unclear whether the same Gulf partners are participating in the revised agreement reportedly struck between Paramount Skydance and Warner Bros. Discovery in late February 2026. The updated deal is said to include a higher payout of $31 per share and a significantly larger debt load, potentially reshaping the transaction’s financial structure.

The evolving negotiations highlight the growing role of global sovereign wealth funds in high-profile U.S. corporate takeovers, particularly in strategic sectors such as media and entertainment.