Elon Musk has said he is actively considering merging Tesla and SpaceX, his two biggest companies.
“Do I think it would be a good idea? Yes,” Musk said during a call with financial analysts to discuss SpaceX’s latest results on Tuesday.
While Musk noted it could not be assumed a merger will go ahead, and it would need shareholders’ support, he said special committees within both companies had been formed to examine the move.
“The special committees have not reached agreement on terms of any transaction and there’s no guarantee that they will,” he said. “But I do think there is a lot of merit to merging and a lot to be gained.”
With Tesla valued at roughly $1.5 trillion and SpaceX at $2 trillion, a combination of the two companies would mark one of the largest mergers in history.
SpaceX builds space rockets as well as Starlink internet satellites and provides a secured satellite network for governments, including the US, through its Starshield business.
That part of the business is currently facing scrutiny over claims Ukraine’s access to the network has been limited, leaving it vulnerable to deadly strikes by Russia.
US President Donald Trump has denied either he or Musk ordered the slowdown. Musk himself suggested the US government might have been behind the restrictions.
Starlink’s total revenue rose to $5.2bn in the three months to 30 September from $3bn in the same period last year. It is dwarfed by SpaceX’s expansion into offering cloud compute capacity for other tech companies, such as Anthropic and Google.
The business generated revenues of $7.5bn over the three months, up from $813m last year.
