Elon Musk joins the board of Endeavor, owner of the UFC

Elon Musk has formally joined the board of Endeavor, the Hollywood conglomerate whose properties include the William Morris talent agency and Ultimate Fighting Championship, in conjunction with Endeavor's IPO on Thursday.

Why it matters: This is currently Musk's sole directorship for a company that he didn't help create.

What they're saying: Patrick Whitesell, Endeavor's co-founder and executive chairman, tells the Axios Re:Cap podcast that Musk's "advice and perspective" is invaluable, while The Wrap reports that the Tesla CEO helped Endeavor secure new investors.

• More from Whitesell: "Elon's a personality, but we like personalities. And so we're comfortable with it... Being in the entertainment business, we've dealt with personalities. Whether we represent them, we have a few that we work with. So I guess we got a lot of experience in that area. So we're thrilled to have him."

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