News from April 1, Beijing time,Endeavor Group, a well-known American artist brokerage company, disclosed in its IPO prospectus today that it has nominated Tesla CEO Elon Musk to join the company’s board of directors.Endeavour Group was originally an artist management company, founded by the famous Hollywood agent Ari Emanuel (Ari Emanuel).
After a series of mergers and acquisitions, Endeavour Group became a media and entertainment conglomerate, owning and managing live events including the Ultimate Fighting Championship (UFC), Miami Tennis Open, New York Fashion Week, Frieze Art Fair, and Miss Universe pageant game.
Now, Endeavour Group plans to go public and hopes that Musk, the world’s second richest man, can become one of its 11 board members.
“The reason why Mr. Musk was chosen to join our board of directors is because of his professional background and experience in operating listed companies. He has previously held senior management positions, served as directors of other listed companies, and his role in establishing, developing and integrating business Experience.” Endeavour Group stated in the prospectus.
Musk is nominated for director of Endeavour Group
Musk also needs the election of Endeavour Group shareholders to officially become a director. Although his settlement with the U.S. Securities and Exchange Commission (SEC) in 2018 resulted in him stepping down as Tesla’s chairman and paying a fine, he was still allowed to serve as a director of a listed company.
Investors of Endeavour Group including hedge fund Elliott Management Company and Silver Lake Capital confirmed that Musk’s director nomination was not an April Fool’s joke, although Endeavour’s submission of the S-1 prospectus was close to April Fool’s Day.
Musk and Emanuel have a long history of cooperation. Emanuel was an early supporter of Tesla and had booked Tesla’s first production car: the first-generation Roadster sports car. His siblings include Rahm Emanuel, the 55th mayor of Chicago. In 2018, the Chicago government awarded The Boring Company, a tunneling company owned by Musk, a large contract.
Musk is also a guest of comedian Joe Rogan’s podcast “Joe Rogan Experience”, and his last appearance was in February. Logan is a UFC fan and once served as an announcer for the event.