Oracle founder Larry Ellison has put his money where his mouth is, agreeing to personally guarantee $40.4 billion (£30.2 billion) to back his son David's hostile takeover bid for Warner Bros Discovery. The unprecedented move addresses the target company's biggest complaint about Paramount's offer and escalates what's already Hollywood's most dramatic corporate battle in years.
Paramount announced Monday it's making the guarantee 'irrevocable', meaning Larry Ellison can't back out once the deal moves forward. That's a massive commitment from the world's second-richest person, putting roughly one-sixth of his estimated $250 billion (£187 billion) net worth on the line, according to CNN.
