In SpaceX’s IPO, Elon Musk is a risk factor
The SpaceX IPO is here, and it’s more than just an historic public offering that could make Elon Musk the world’s first trillionaire. It also reveals more ways in which Elon Musk’s companies interact and overlap with each other, shuffling money around in ways that are often difficult to keep track of.
This is evident in ways that are both obvious and less so. A CTRL-F search for “Tesla” yields 87 results, xAI is mentioned 356 times, and X 267 times. Even the Boring Company (7 times) and Neuralink (3) get a few mentions. Throughout its 330 pages of rocket launches and interplanetary wishes, you can trace the network of ways in which Musk’s companies deal with each other.
It’s also evident in the ways Musk’s companies are shareholders in other Musk companies, further intertwining their fates in the process. Based on the Form S-1 filing, Tesla owns nearly...
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