by Fred Fuld III
Elon Musk is involved in a lot of businesses, including Tesla (TSLA), the Boring Company, SpaceX, and Neuralink, and almost became the head of Twitter (TWTR).
However, many investors don’t realize that Musk has been on the Board of Directors of a company called Endeavor Group Holdings, Inc. (EDR).
In addition, Elon Musk owns 7,583 shares of Endeavor Group Holdings, according to a recent SEC Form 4 filing.
Musk has been a director of the company since its IPO, but has resigned as of June 30.
So what is this Endeavor Group Holdings?
Endeavor, formerly named William Morris Endeavor Entertainment, is located on Wilshire Boulevard in Beverly Hills.
It is an entertainment conglomerate. It owns such businesses as UFC, the talent management company IMG, Professional Bull Riders, Miss Universe, and nine Minor League Baseball Teams.
The company has a market cap of $6.2 billion, and a sky high price to earnings ratio of 730. However, it does have a reasonable price sales ratio of 1.10.
Revenues year-over-year have gone from $3.48 billion in 2020 to $5.08 billion in 2021.
The Endeavor Talent Agency launched in 1995. In 2009, WMA and the Endeavor Talent Agency merged to form William Morris Endeavor, or WME.
Endeavor executives Ari Emanuel and Patrick Whitesell became co-CEOs.
On April 28, 2021, Endeavor Group went public on the New York Stock Exchange.
Disclosure: Author has a short option position in TSLA.