Tesla‑SpaceX merger: could Elon Musk be about to create the biggest stock‑market behemoth in history?

The Tesla adventure began in 2003. Elon Musk joined the company a year later. He took charge in 2008. At the time, no one really believed in electric cars. Twenty years later, Tesla shook up the automotive industry by becoming one of the largest sellers of electric cars in the world. SpaceX was born in 2002. The group has become a space giant with its rockets and the Starlink constellation. We can add Twitter, purchased in 2022 and renamed X, and artificial intelligence activities. The highlight is the IPO of SpaceX this year. It is today the biggest introduction in the world.

Considerable industrial synergies… but beware of gigantism

After conquering the road and space, Elon Musk dreams of bringing his two giants together. The project is being studied. The two companies have formed committees of independent directors to discuss this. The result is a juggernaut valued at around $3,600 billion. And above all considerable industrial synergies. Tesla and SpaceX have the same gigantic needs, particularly in semiconductors.

Behind this industrial logic also hides a more personal issue: to further strengthen his hold on his empire and to be the richest man of all time. But be careful of gigantism. The promised synergies do not guarantee savings or profits. Bigger doesn't always mean stronger. The stock has lost more than 10% since its debut.

Machine-translated from French