Pete Davidson's SNL Return: Ferry Fiasco, Fatherhood & Lorne Michaels

Pete Davidson surprised fans on a recent "Weekend Update," dishing on his infamous Staten Island ferry, why he took a gig in Saudi Arabia, and his exciting journey into fatherhood.

TL;DR: Key Takeaways from Pete Davidson's Latest Appearance

Ferry Fiasco & Financial Woes: Pete Davidson returned to "SNL's Weekend Update" to joke about the "money-losing fiasco" of the Staten Island ferry he co-owns, claiming millions are being lost.
Controversial Saudi Gig Justified: Davidson linked his recent appearance at the Riyadh Comedy Festival to the ferry's financial drain, also noting he couldn't afford a paywall article because he's expecting a child.
Fatherhood & Future Loyalty: The comedian is gearing up for fatherhood with Elsie Hewitt and reiterated his profound loyalty to "SNL" creator Lorne Michaels, stating he'd "do anything for Lorne."

Imagine seeing a headline about a venture you invested in, declaring it a "money-losing fiasco." Now, imagine using that as a punchline on national television to explain a controversial career move. That’s exactly what Pete Davidson did during his surprise return to "Saturday Night Live's Weekend Update" on November 8, 2025. The former cast member joined co-host Colin Jost to unpack the ongoing saga of their shared, decommissioned Staten Island ferry, and in typical Davidson fashion, no topic was off-limits.

The segment kicked off with Jost referencing a recent New York Times article that labeled their ferry purchase a financial disaster. Davidson, ever the self-deprecating comic, quickly jumped in to explain his presence at the controversial Riyadh Comedy Festival. "In case you’re wondering why I had to do a show in Saudi Arabia, we’re losing millions on this ferry," he quipped, adding, "I can’t spend $5 on a paywall when I got a kid on the way."

The Ambitious Purchase of a Staten Island Ferry

Back in January 2022, Davidson and Jost, along with architect Ron Castellano and comedy club owner Paul Italia, purchased the MV John F. Kennedy ferryboat at auction for $280,000. Their grand vision? To transform the 300-foot vessel into a $34 million entertainment hub, complete with restaurants, bars, and performance spaces. It sounded like a dream — a floating, fun-filled monument to their Staten Island roots.

However, the reality has been a bit more challenging. The ferry is currently sitting unused in a Staten Island shipyard, its grandiose plans largely unrealized. Jost himself has candidly called the purchase "the dumbest and least thought-through purchase I’ve ever made in my life." Adding insult to injury, their LLC, Titanic 2, is reportedly facing a lawsuit for $13,500 in outstanding obligations [Source: Consequence, November 9, 2025].

Finding Silver Linings in a Sea of Debt

Despite the substantial financial drain, not all is lost at sea. Jost noted a recent win: "Recently, we got paid by Nike to put an ad on it for the New York City Marathon." This small victory for their red-painted boat offered a brief moment of levity and a hint that their commitment, however ill-advised it once seemed, might just pay off in unexpected ways.

“We thought the Staten Island Ferry sounded too depressing, so now it’s called the Titanic 2.” — Pete Davidson on the ferry's new (joking) name

Davidson also playfully suggested another name change for their "money-losing" vessel, joking, "We thought the Staten Island Ferry sounded too depressing, so now it’s called the Titanic 2." He even pitched it as a floating haven for disgruntled Staten Islanders who didn’t vote for the new mayor, Zohran Mamdani, facetiously calling it "New Staten Island," where residents would "love running into ICE."

The Controversial Gig and Impending Fatherhood

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Davidson's Riyadh Comedy Festival performance last month drew significant criticism, particularly given his father, a New York City firefighter, died responding to the 9/11 attacks, and the Saudi government has been named in a lawsuit alleging its role in funding the attack. Other prominent comedians like Dave Chappelle, Bill Burr, and Louis C.K. also performed, but the backlash for Davidson was especially pointed.

His "Weekend Update" explanation, attributing the gig to the ferry's financial demands, offered a comedic, albeit blunt, justification. He also openly embraced his upcoming role as a father, expecting his first child with girlfriend Elsie Hewitt. "I’m excited to be a dad," he shared, "and give it all the energy and enthusiasm I never had for this show." This blend of personal news with professional controversy highlights Davidson’s signature candidness.

For example, imagine a passionate chef who buys a historic, but dilapidated, diner with dreams of turning it into a Michelin-star establishment. Years later, deep in debt from renovations and slow business, they take a lucrative, but morally ambiguous, catering gig to simply keep the lights on and provide for their growing family. It’s a relatable scenario of dreams colliding with financial realities and the difficult choices that follow.

Pete Davidson's Undying Loyalty to Lorne Michaels and SNL

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While Davidson joked about his lack of enthusiasm for SNL compared to fatherhood, his genuine affection and respect for the show and its creator, Lorne Michaels, shone through. "If Lorne Michaels has taught us anything, it’s that you never, ever give up," Davidson stated, playfully adding, "Even if everyone says the time has come and Tina Fey is ready to take over."

This humorous jab at Michaels' rumored succession plan underscored a deeper truth: Davidson's profound gratitude. He was part of the SNL cast from 2014 to 2022, a significant eight-season run that jump-started his career when he was just 20 years old. "I owe that guy my life," Davidson told People on November 8, 2025. "He jump-started everything. So I’d do anything for Lorne, and he knows that" [Source: People, November 8, 2025]. He even stated he would return as a cast member if Michaels asked. This sentiment reveals a strong, enduring bond despite his departure and the typical comedic roast.

The Complexities of Comedy and Commerce

Davidson’s candidness about his Saudi performance brings to light the ongoing debate about comedians performing in countries with questionable human rights records. While critics argue it constitutes "comedy-washing" or "sportswashing," helping regimes divert attention from their abuses, comedians often counter with arguments of artistic freedom or, as in Davidson's case, financial necessity. This isn't a simple black-and-white issue, but a complex interplay of personal ethics, professional opportunities, and economic realities.

The ferry project itself serves as a perfect metaphor for these complexities: a grand, idealistic vision that runs head-first into the choppy waters of financial strain and logistical nightmares. It highlights the trade-offs often faced when ambition meets the harsh realities of execution and unexpected costs. The Nike ad, while a small win, doesn't erase the millions being lost or the initial "dumbest purchase" sentiment from Jost. Yet, the commitment to the vision, however challenging, persists, much like Davidson's commitment to his career despite the critical noise.

Practical Takeaways for Ambitious Dreamers (and Ferry Buyers)

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Research Your Dreams Thoroughly: Before diving into a $34 million renovation project (or any big venture), understand all the potential hidden costs and liabilities.
Diversify Your Income Streams: Davidson's comedy gigs, even controversial ones, helped offset a major financial drain. Don't put all your eggs in one (ferry) basket.
Stay True to Your Roots (and Mentors): Despite the jokes, Davidson's loyalty to Lorne Michaels and his Staten Island background remains a core part of his public persona.
Embrace the Unexpected (Even Fatherhood): Life throws curveballs, and sometimes the biggest changes (like impending parenthood) shift perspectives and priorities in surprising ways.
Acknowledge Challenges with Humor: Sometimes, the best way to deal with a "money-losing fiasco" is to simply joke about it.

Frequently Asked Questions About Pete Davidson and the Ferry

When did Pete Davidson return to "Saturday Night Live"?Pete Davidson made a surprise appearance on "Saturday Night Live's Weekend Update" on November 8, 2025.

What is the name of the ferry Pete Davidson and Colin Jost bought?They bought the decommissioned Staten Island ferry, MV John F. Kennedy, and jokingly referred to renaming it "Titanic 2."

Why did Pete Davidson perform at the Riyadh Comedy Festival?Davidson joked on "SNL" that he performed there because he and Colin Jost are "losing millions" on their ferry venture.

Is Pete Davidson going to be a father?Yes, Pete Davidson is expecting his first child with his girlfriend, Elsie Hewitt.