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Elon could gain Tesla control through a SpaceX merger deal
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Elon might be about to take majority control of Tesla without spending a single dollar, and the whole trick lives inside how SpaceX stock works. Last November, Tesla shareholders approved a pay package worth up to $1 trillion. Even if Tesla hits every target in it, all the way up to an $8.5 trillion valuation, Elon ends up with about 25% of the votes. Why does he care so much about 25%? Back in January 2024 he posted that he was uncomfortable building Tesla into an AI and robotics leader…
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BREAKING: A Tesla–SpaceX merger could be announced before Tesla’s annual meeting in early December, per Barclays. The most likely structure: SpaceX acquires Tesla in an all-stock deal, with Tesla shareholders getting about 0.7 SpaceX shares per Tesla share, plus a likely premium. Barclays says Musk would own about 37% of the combined company, with roughly 56% of the voting power.