Elon Musk Selected to Join Board of Company That Owns UFC and Miss Universe In an IPO filing, Endeavor Group Holdings said that a 2018 settlement between Musk and the SEC would not prevent the billionaire's ability to join the company's board.

By Justin Chan Edited by Jessica Thomas

Billionaire businessman Elon Musk has been selected to join the board of Endeavor Group Holdings, the company announced in its IPO filing on Wednesday.

Founded by Ari Emanuel, the company owns and manages the UFC, the Miss Universe pageant and New York Fashion Week, among other live events. Now, it hopes to bring on one of the most recognizable names as one of its 11 directors.

"Mr. Musk was selected to serve on our board of directors because of his professional background and experience running a public company, his previously held senior executive-level positions, his service on other public company boards and his experience starting, growing and integrating businesses," Endeavor said in the filing.

Related: Elon Musk Suggests in Tweet That Tesla Could Be Bigger Than Apple in a Few Months, Then Deletes It

In addition to explaining its decision to nominate Musk to the board, the company also addressed concerns surrounding the SpaceX and Tesla CEO's settlement with the SEC in 2018. Musk was forced to step down as Tesla's chairman and pay a fine after he claimed on Twitter that he was considering taking Tesla private.

"Without admitting or denying the SEC's allegations, Mr. Musk agreed to a monetary penalty and to step down as Tesla Inc.'s Chairman of the Board for a period of time," Endeavor said. "There are no restrictions on Mr. Musk's ability to serve as an officer or a director on a company's board."

Musk must still be elected before serving as one of Endeavor's directors.

According to CNBC, Endeavor filed for an IPO two years ago but pulled back its plan to go public following weak interest from investors. Last year, the company did $3.48 billion in sales, posting a net loss of $625.3 million.

Justin Chan

Entrepreneur Staff

News Writer

Justin Chan is a news writer at Entrepreneur.com. Previously, he was a trending news editor at Verizon Media, where he covered entrepreneurship, lifestyle, pop culture, and tech. He was also an assistant web editor at Architectural Record, where he wrote on architecture, travel, and design. Chan has additionally written for Forbes, Reader's Digest, Time Out New YorkHuffPost, Complex, and Mic. He is a 2013 graduate of Columbia Journalism School, where he studied magazine journalism. Follow him on Twitter at @jchan1109.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'I Want the Best People on Our Teams': Meta Is Laying Off More Than 3,000, CEO Mark Zuckerberg Calls for 'Extensive Performance-Based Cuts' — Read the Memo

In an internal memo shared on Tuesday, Zuckerberg said it's "going to be an intense year" at the company.

Side Hustle

'Hustling Since Middle School': She Started a Side Hustle on Facebook Marketplace — Then a 'Game-Changer' Grew It to $25,000 a Month

Leena Pettigrew's "entrepreneurial spirit" inspired her to build a business with earnings that outpaced her full-time income.

Leadership

From Elite Athletes to Tech Titans — Discover the Surprising $100-Million Habit That Leads to Extraordinary Success

Success comes from mastering focus, eliminating distractions and prioritizing what truly matters.