Musk confirms interest in merging SpaceX and Tesla, which would be the biggest deal ever
Independent directors at SpaceX and Tesla are evaluating a possible merger, Elon Musk said. Shares of both companies rose after the news.
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what happened
Elon Musk said that independent director committees at SpaceX and Tesla are assessing a possible merger of the two companies, according to The Wall Street Journal. He added that the transaction might not go ahead. The deal would likely be an all-stock transaction, with SpaceX potentially paying a modest premium for Tesla shares. SpaceX is valued at about $2 trillion and Tesla at about $1.5 trillion.
The companies' close ties have already drawn attention. Tesla's filing shows $143 million in car sales to SpaceX last year and $430 million in Megapack battery sales for SpaceX's data centers. Musk holds more than 80% of voting power at SpaceX, and analysts expect the deal to face regulatory scrutiny abroad.
why it matters
The logic behind the deal matters for markets. Musk links the two companies through AI, robots and data centers. If the merger goes through, Tesla investors would be valuing the business within a larger group, and shares of both companies remain sensitive to deal structure news.
market impact
TSLA and SpaceX: a possible merger changes valuation and expectations about deal structure
tags
instruments
sources
- SpaceX and Tesla Are Joined at the Hip. A Merger Would Make It Formal. — WSJ, 22 October 2026 at 01:00 UTC
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