1 hour ago
16
Houston, we have an update on all that SpaceX-Tesla merger chatter.
During SpaceX's Tuesday earnings call, Elon Musk said both of the companies had created "special committees of independent directors" to discuss a potential merger.
Musk, who helms both companies and owns billions in stock of each, said he can't be part of those groups.
"Do I think it would be a good idea? Yes," he said on the call. "But at the end of the day, the shareholders have to be supportive of this, and particularly on the Tesla side, we will need a 50% vote of all shares, not just those who vote, but of all shareholders."
He said clearing that bar would be "quite a high hurdle."
This is a developing story…
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Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
