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Elon Musk, the founder of Tesla, will step down from the board of directors of Endeavor Group Holdings, which owns the William Morris talent agency and the Ultimate Fighting Championship.

According to The Hollywood Reporter, Musk's departure was revealed in the company's annual report filed with the Securities and Exchange Commission, and his resignation will take effect on June 30, 2022.

"We appreciate Elon Musk's dedication to Endeavor throughout our first year as a public company, during which he made significant contributions to our long-term strategy and vision for sports and entertainment. We understand he has a lot on his plate and limited time, therefore we appreciate his help" According to a spokeswoman for Endeavor,

Musk notified his resignation on March 12th, according to the corporation, and it was not due to any sort of conflict.

Musk is also the founder, CEO, and Chief Engineer of SpaceX, in addition to overseeing Tesla.