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Steve Hanley had an excellent article this week discussing how the SpaceX IPO may well be a boondoggle to bail out a couple of Elon Musk ventures and enrich a few friends. It’s honestly a bit shocking once you get into the details of the IPO. I think most of us knew that SpaceX bailed out X and xAI, and that the IPO helps with that, but I had no idea of the extent of the bailout and how much of the raised money would go to just a few people.
Anyway, the SpaceX IPO hasn’t even happened yet and murmurings of a SpaceX–Tesla murmur are getting louder.
“Two of the most valuable companies on the planet share one chief executive, overlapping workforces, and billions of dollars in cross-company transactions. Wall Street cannot stop asking whether Elon Musk will fold SpaceX and Tesla into a single entity,” Damilola Esebame of The Street notes. “That speculation surged after reports confirmed Musk had discussed combining the two companies with close colleagues in recent weeks.”
Boom — there it is. Musk is already having conversations about this, and the fact that he’s doing so is leaking to the press. Once Musk gets his head stuck on an idea like this, he tends to ignore opposition to it, rationalize it, and follow through.
