SpaceX And Tesla Are Exploring A Possible Merger
The companies formed special committees with independent directors from both sides.
Finn Gomez/Getty Images
SpaceX and Tesla have formed special committees to discuss the possibility of a merger, Elon Musk has revealed during the former's earnings call for the third quarter of 2026. Musk, who serves as CEO for both companies, said the committees were formed at the request of shareholders. The committees are made up of independent directors from SpaceX and Tesla. Musk himself can't be part of the discussions, as someone who's considered a "conflicted party," along with his brother Kimbal Musk.
Based on the corporate information listed on the companies' websites, Tesla has seven independent directors, while SpaceX has six. However, Ira Ehrenpreis, the chairperson for Tesla's Compensation and Nominating and Governance committees, also joined SpaceX's board in February. Both companies still list him as an independent director. As Electreknotes, Tesla has become a SpaceX shareholder,...
Copyright of this story solely belongs to www.engadget.com. To see the full text click HERE
