The billionaire businessman - who serves as the CEO of Tesla - has been lined up to become a board director at Endeavor, which is responsible for things like the Miss Universe pageant and New York Fashion Week, as well as the Ultimate Fighting Championship (UFC).
Endeavor has revived plans for a stock market listing and the company is currently hoping to raise as much as $1.8 billion through its links to the UFC, The Times newspaper reports.
However, Musk's appointment to the board of directors is still waiting to be rubber stamped.
Meanwhile, Musk recently insisted that Tesla would be shut down if his company was being used to spy on China.
The billionaire made the statement following suggestions that China's military had banned Tesla cars from its facilities, having previously raised concerns about the cameras installed in the vehicles.
Speaking via a video link, Musk told an influential Chinese business forum: "There's a very strong incentive for us to be very confidential with any information. If Tesla used cars to spy in China or anywhere, we will get shut down."
Musk made the comments amid ongoing tensions between the US and China - the world's two biggest economies.