It’s both. However, NBC did not have to edit it nearly as much as they did, in order to protect themselves from being sued for slander.
Not even a billionaire is going to sell the idea that a political sketch on a parody show is "slander". Esp. since anyone who has a billion bucks is perforce a "public figure".
Considering how everyone roughed up Sarah Palin, I'd rather have the billion dollars and the sideswipe from SNL. Nice problem to have.