Tesla (TSLA - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this electric car maker have returned -3.7% over the past month versus the Zacks S&P 500 composite's +0.5% change. The Zacks Automotive - Domestic industry, to which Tesla belongs, has lost 4.4% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Tesla is expected to post earnings of $0.45 per share, indicating a change of +12.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.6% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $1.99 points to a change of +19.9% from the prior year. Over the last 30 days, this estimate has changed -1.3%.
For the next fiscal year, the consensus earnings estimate of $2.56 indicates a change of +28.7% from what Tesla is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Tesla.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Tesla, the consensus sales estimate of $24.32 billion for the current quarter points to a year-over-year change of +8.1%. The $100.93 billion and $113.02 billion estimates for the current and next fiscal years indicate changes of +6.4% and +12%, respectively.
Last Reported Results and Surprise HistoryTesla reported revenues of $22.39 billion in the last reported quarter, representing a year-over-year change of +15.8%. EPS of $0.41 for the same period compares with $0.27 a year ago.
Compared to the Zacks Consensus Estimate of $21.92 billion, the reported revenues represent a surprise of +2.12%. The EPS surprise was +13.89%.
Over the last four quarters, Tesla surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Tesla is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Tesla. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.
Tesla recently stopped producing its Model Y SUV so it could focus on mass-producing AI-trained humanoid robots. (Photo by Spencer Platt/Getty Images)
Tesla stock rose early Monday, along with the market, after President Trump announced a memorandum of understanding to effectively end the war started three months ago.
Ross Gerber, president and CEO of Gerber Kawasaki Wealth & Investment Management, said that he feels a that a merger to combine SpaceX and Tesla is a 'forgone conclusion' and that he believes its been propping up Tesla's stock as people wait for an opportunity to own SpaceX. Gerber says that despite some concerns about Musk's complete control over both companies, he feels that investors know what they are getting into putting their money in his hands and that investors who have a problem with it shouldn't buy the stock.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
Item 1 of 2 A Tesla robotaxi drives on the street along South Congress Avenue in Austin, Texas, U.S., June 22, 2025. REUTERS/Joel Angel Juarez/File Photo To Match Special Report TESLA-FSD/SAFETY
[1/2]A Tesla robotaxi drives on the street along South Congress Avenue in Austin, Texas, U.S., June 22, 2025. REUTERS/Joel Angel Juarez/File Photo To Match Special Report TESLA-FSD/SAFETY Purchase Licensing Rights, opens new tab
SummaryCompaniesTesla used dubious safety stats to make case for FSD approval in EuropeAutomaker's crash data has been called into question by researchersSweden says regulators 'look beyond headline figures' to assess safetyJune 15 (Reuters) - In its efforts to secure European approval of its “Full Self-Driving” (FSD) system, Tesla (TSLA.O), opens new tab has presented self-published safety statistics to regulators in Sweden and the Netherlands that independent traffic-safety researchers have said amount to misleading marketing.
A Reuters examinationpublished last month found that Tesla CEO Elon Musk and other leaders over the past year have increasingly cited statistics they say prove its FSD driver-assistance feature is up to 10 times safer than human drivers. But the news agency’s review found several invalid data comparisons underlying Tesla’s statistics, opens new tab that exaggerated its safety claims.
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Tesla has presented the inflated safety data to some European regulators, according to correspondence obtained by Reuters through public records requests, as the EV maker seeks wider approval of FSD in a region where it is trying to regain market share. Tesla approached RDW, the Dutch road regulator, in late 2024 to begin the FSD approval process.
In a November 2024 letter to RDW, Tesla provided a link to its safety report and claimed “increased usage” of FSD “leads to safer roads.” Tesla charges a monthly subscription for FSD, which can drive itself under certain circumstances but requires the human driver to pay attention.
After more than a year of testing and discussions with Tesla, RDW in April approved FSD for use in the Netherlands. The Dutch regulator is now seeking EU-wide approval on behalf of Tesla.
RDW declined to comment on the issues Reuters identified with Tesla's safety statistics, but the agency said in a statement that it "does not rely on marketing claims or external statistics" to make decisions and performs its own "tests, analyses and verifications" of the system on public roads and test tracks. The agency did not say whether it assessed Tesla's U.S. safety statistics.
RDW said Tesla “collected a lot of data” during testing and the agency “validated, tested and audited all of this data.” RDW did not say what kind of data Tesla collected or what it measured.
Tesla did not respond to requests for comment.
SAVING 32,000 LIVES?Soon after the Dutch announced the decision on April 10, a Tesla policy manager, Ivan Komusanac, wrote an email to Swedish regulators asking for similar FSD approval. He attached a slide presentation displaying the exaggerated claim that Teslas using FSD can travel more than seven times farther between crashes than the average U.S. human driver.
The presentation also claimed FSD could have potentially saved 32,000 lives and prevented 1.9 million injuries.
Researchers interviewed by Reuters said those figures are highly misleading because they are based on the unrealistic assumption that every U.S. vehicle, including freight trucks and crash-prone motorcycles, would be replaced by an FSD-enabled Tesla car – and that every Tesla car is, in fact, at least seven times safer than the one it replaces.
The Reuters examination also found Tesla exaggerates the technology’s safety by comparing a rate of crashes in FSD-piloted Teslas that triggered airbag deployments to a U.S. crash rate for all vehicles that includes far less-severe accidents. The company also compares its cars to the average U.S. vehicle – which is much older than the average Tesla. That distorts the results because automakers have gradually introduced new safety features that reduce crashes.
Anders Eriksson, an investigator at the Swedish Transport Agency, declined to comment on the data Tesla provided, but added that Swedish regulators “look beyond headline figures” and that any assessment of such a system would not be based “solely on aggregated safety claims, but on the overall evidence presented.”
The regulator did not answer Reuters’ questions about what other evidence Tesla provided.
Dudley Curtis, a spokesperson for the watchdog group European Transport Safety Council, said his organization is “certainly concerned” that Tesla presented “unreliable safety data” from the United States to regulators in Sweden, after Reuters told the group about the correspondence.
He added that if Tesla wants to make safety claims, they should “give the data to a university, have it independently verified by a qualified researcher, and then let’s talk.”
TESLA LOOKS TO FSD FOR EUROPEAN REBOUNDTesla has said FSD approval in Europe is key to vehicle sales growth in the region. The EV maker is still trying to regain market share after sales plummeted last year amid protests over Musk’s political activities, including his embrace of far-right European political parties.
Failing to secure approval could make it harder for Tesla to compete in a region where Chinese EV makers are steadily making inroads.
In the coming months, representatives of 55% of member states that make up 65% of the bloc's population must vote “yes” for FSD to become legal throughout the EU.
In the meantime, individual member states can approve the technology on their own. A regulator in Greece, which said last month the country aims to approve FSD, cited data “from the other side of the Atlantic” that showed “this system ultimately leads to a very significant drop in accidents.”
The Greek transport ministry declined to answer questions about whether the data it cited was from Tesla’s safety report.
Regulators in other European countries have been inundated by drivers citing Tesla’s safety statistics and urging swift approval of FSD, emails showed.
Several Tesla drivers wrote to Norwegian road regulators citing Tesla’s vehicle safety report last autumn. One argued the technology is “significantly safer than average manual driving,” with the potential to “reduce traffic accidents by up to 90% and thus save lives on Norwegian roads.”
Stein-Helge Mundal of the Norwegian Public Roads Administration responded to several Tesla enthusiasts, saying Tesla’s figures “are self-produced,” which makes it “difficult to find correlation with the authorities’ accident statistics.”
Reporting by Chris Kirkham in Los Angeles and Marie Mannes in Stockholm; Additional reporting by Toby Sterling in Amsterdam; Editing by Mike Colias and Anna Driver
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Chris Kirkham is a business reporter in Los Angeles who writes about Tesla, electric vehicles and the wider automotive industry. He previously worked at The Wall Street Journal and the Los Angeles Times, and has covered topics including tobacco, worker safety, gambling, and the economy over a two-decade career. Contact him at [email protected] or on Signal at chris_kirkham.51
Stockholm-based company news correspondent who mainly covers anything to do with retail and industrial companies in Sweden as well as other sectors with Swedish companies. She previously covered the general Nordic stock market from Gdansk, reporting on a range of subjects, from companies exiting Russia to M&As and supply chain concerns. Marie has degrees in journalism and international relations and is keen on finding stories that drive the market and that have unreported elements to it.
ChatGPT parent company OpenAI is looking beyond the virtual world and eying the real one.
That's the takeaway from OpenAI chief executive Sam Altman's recent post on X, anyway. As part of his call for artificial intelligence (AI) engineers, Altman said the company is looking for "engineers to help us program and manufacture robots that are useful for society." No interpretation needed.
The question is: What does this mean for Tesla (TSLA +1.65%), which in January suggested it could be selling autonomous humanoid robot assistants -- called Optimus -- by the end of next year?
Image source: Getty Images.
Shaking up the still-new AI robotics business Without knowing more about Altman's vision, it's too soon to say whether OpenAI will be a direct competitor to Tesla, which appears intent on building humanoid robots to handle warehouse and household tasks. OpenAI may end up making robotics meant for industrial assembly lines, dangerous drilling work, or agricultural duties.
There's little doubt, however, that these two companies will eventually compete with one another on the autonomous robot front.
And that's more of a problem for Tesla and its shareholders than it is for OpenAI and its future investors, if it ever goes public, for one simple reason. That is, Tesla stock is already priced at a steep premium. For perspective, Tesla shares are currently trading at nearly 13 times next year's projected revenue of $118 billion and 160 times 2027's expected earnings per share of around $2.60. Both are wildly high, suggesting the stock isn't just priced for perfection, but dominance ... of multiple markets.
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Next year's results still won't fully reflect any robot revenue that begins flowing for Tesla in 2027, if any at all. For that matter, it's unlikely OpenAI will have any actual physical robots to start selling next year either.
Much can happen between now and then, though. If nothing else, it gives current and would-be shareholders time and reason to consider the possibility that a well-established rival could compete with Tesla on the robotics front, perhaps eventually even in the humanoid assistant market. And it doesn't hurt that ChatGPT still dominates the AI chatbot landscape, with a near-80% market share, according to numbers from Statcounter. If there's any integration or robot management to be done, it should be handled with relative ease using OpenAI's popular app.
Altman's new focus does something else, too. That is, in that OpenAI already backs robotics start-up 1X Technologies and has previously collaborated with Figure AI, it not only illustrates how other tech companies could enter the robotics market, but also highlights the fact that many such robotics companies like Agility Robotics, Symbotic, and NEURA Robotics -- just to name a few -- already exist.
Yes, it's a (slight) concern Don't misread the message. Tesla will probably beat everyone else to the personal AI-powered robot market. It's unlikely to dominate this business, though, the way the company dominated the electric vehicle market as it became mainstream. It's the sheer unknown of the matter that works against the stock.
From this perspective, OpenAI's interest in robotics should give Tesla shareholders pause, even if only a modest one.
Tesla (TSLA +1.65%) and SpaceX (SPCX +19.22%) CEO Elon Musk just crossed a line no one ever has. With the public-market debut of SpaceX on Friday, the value of his stake in the rocket and satellite company pushed his net worth past $1 trillion, making him the world's first trillionaire. In fact, as of this writing, he's worth more than the next four people on the global wealth rankings combined.
But for the millions of people who own Tesla stock, the milestone is less a story about Tesla than about where Musk's fortune now sits. After Friday's debut, his SpaceX stake was worth more than $760 billion -- well over twice the value of the Tesla shares he holds. The company that made Musk famous is no longer where most of his wealth lives.
Tesla, still about a $1.3 trillion company, is now just one of two enormous public companies Musk leads. Here's a closer look at what that means for its shareholders.
Image source: Getty Images.
How SpaceX minted a trillionaire SpaceX priced its initial public offering (IPO) at $135 a share, opened around $150 on Friday, and pushed higher from there, ending its first trading day valued at more than $2 trillion. That makes the rocket maker one of the largest companies in the United States, built on an offering that raised about $75 billion.
This isn't only a space company, though. Earlier this year, SpaceX merged with Musk's artificial intelligence (AI) start-up, xAI, putting a fast-growing AI business inside the company that just went public. And Tesla is tied to the result: it owns a small stake in SpaceX, which in turn is a Tesla customer for Megapack batteries and Cybertrucks. Further, through a dual-class structure, Musk controls about 82% of SpaceX's voting power while owning about 42% of its equity -- a degree of control he doesn't have at the carmaker.
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None of this means Musk is stepping back from Tesla. Last year, Tesla shareholders approved a pay package that could be worth about $1 trillion if he hits a long list of valuation and operational targets, an arrangement built to keep him focused on the company for years. But he now sits atop two public businesses of staggering size, and his attention, like his fortune, is split across both.
What it means for Tesla investors In the meantime, Tesla isn't the growth story it used to be.
The electric-car maker's revenue fell about 3% in 2025 -- the first annual revenue decline in the company's history. And even after a stronger first quarter to start off 2026 (revenue rose 16% to $22.4 billion, with about 358,000 vehicles delivered), the company earned just $477 million in net income. Against earnings that thin, the stock trades at about 370 times earnings as of this writing.
That price only makes sense if you believe Tesla becomes something far larger than a carmaker. And that belief rests almost entirely on Musk's vision for autonomy and robots -- the same kind of long-term bet that drives SpaceX.
"I think Optimus will be our biggest product, not just Tesla's biggest product ever, but probably the biggest product ever," Musk said during Tesla's first-quarter earnings call, referring to its humanoid robot.
So, Tesla investors are really betting on Musk himself -- his vision and his willingness to keep funding it.
Additionally, management has guided capital expenditures of more than $25 billion this year (a huge step up from last year) -- largely for factories and AI infrastructure. Significant capital expenditures like this add significant risk for the stock.
A public SpaceX shifts the picture in a subtler way, too. A large block of Musk's SpaceX shares does not vest unless, among other conditions, the company someday builds a colony on Mars. But he can borrow against them, which means his potential access to cash is increasingly tied to SpaceX, not Tesla.
And for years, buying Tesla was one of the only ways for public investors to bet on Musk's biggest ambitions. That's no longer true. Anyone who wants exposure to his space and AI dreams can now simply buy SpaceX, without taking on a struggling car business to get it. Some investors are even watching whether the two companies could eventually merge.
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So, what does all of this mean for Tesla stock?
Less than the trillionaire headlines suggest. Musk's net worth doesn't change how many cars Tesla sells or whether its robotaxi bet ever pays off. What the moment does is sharpen the real question for shareholders: Tesla is now one of two giant companies competing for Musk's time and capital, and investors finally have a more direct way to own his boldest bet. I think that puts the focus where it belongs -- on Tesla's autonomy and AI story, not Musk's place on the rich list.
SpaceX SPCX has hit the market, but the buzz around it continues to remain with another question that is increasingly capturing Wall Street's attention: could Elon Musk eventually merge his rocket company with Tesla?
The idea, once considered far-fetched, has gained traction among analysts, investors and even employees close to Musk's businesses.
In the run-up to the IPO, speculation had intensified that Musk may seek to bring two of his flagship companies under a single corporate structure.
According to a CNBC report, Musk has discussed the possibility of combining Tesla and SpaceX with colleagues, according to people familiar with the matter.
One current Tesla employee told CNBC that many workers have long expected such a transaction to occur eventually, while another person close to the company said shared challenges around computing power and energy infrastructure have increased collaboration between the businesses.
The rationale behind merger speculation stems largely from the growing overlap between Musk's businesses.
The companies already maintain extensive commercial relationships.
SpaceX disclosed in its IPO filing that it purchased $697 million worth of Tesla Megapack battery storage systems during 2024 and 2025 to support xAI-operated data centres in Memphis.
The company also spent approximately $131 million on Tesla Cybertrucks in 2025.
Earlier collaborations included Tesla supplying solar equipment and automotive components to SpaceX, while SpaceX helped develop specialised materials used in Tesla's Cybertruck.
AI could also become the strongest force pulling the companies together.
Tesla's autonomous driving systems, robotaxi platform, and Optimus humanoid robot initiative are all heavily dependent on AI.
SpaceX, meanwhile, is pursuing AI-driven projects ranging from Starlink connectivity services to proposed orbital data centres.
Wedbush analyst Dan Ives believes these overlapping ambitions could eventually culminate in a merger.
“Step by step the holy grail could be combining SpaceX and Tesla in some way to give the connected tissue between both disruptive tech stalwarts looking to lead the AI Revolution,” Ives wrote.
Analysts point to multiple areas of potential integration.
Tesla's robotaxis could eventually rely on Starlink connectivity, while AI systems developed through xAI could serve as conversational interfaces for Tesla's vehicles and Optimus robots.
The two companies are also expected to collaborate on Terafab, a proposed semiconductor manufacturing facility in Texas involving Tesla, SpaceX, and Intel.
Both companies require vast amounts of computing power to support autonomous driving, robotics, and AI infrastructure projects.
Beyond operational synergies, financing requirements could also encourage a combination.
SpaceX's IPO filing revealed that the company spent more than $10 billion on capital expenditures during the first quarter of 2026 alone, resulting in approximately $9 billion of negative free cash flow.
The company is investing aggressively in Starship development, AI infrastructure, data centres, and other large-scale projects.
Tesla is facing its own spending surge.
The electric vehicle maker recently indicated that capital expenditures could exceed $25 billion this year as it ramps up investments in artificial intelligence, robotics, and autonomous transportation.
Some analysts believe combining balance sheets could help support those ambitions.
Tesla currently holds roughly $45 billion in cash, potentially providing additional financial flexibility for SpaceX's long-term projects.
Reuters columnist Robert Cyran argued that a merger could also simplify questions about Musk's allocation of time and resources.
“Pooling the companies would also superficially eliminate the awkward question of which corporate child Musk favors,” he wrote.
"Investors pay a huge premium for the billionaire’s science-fiction imagination. Tesla trades at 200 times estimated earnings, according to LSEG, while SpaceX's proposed valuation is even more eye-popping. Yet Musk only has 24 hours in a day – or less, when accounting for his prolific tweeting – and questions over where he’s spending have raised investor hackles," he said.
Morningstar analysts see similar strategic logic in a combination.
“The most important additional reason a merger makes sense is that Tesla and SpaceX CEO Elon Musk wants to consolidate his companies into one conglomerate,” they wrote.
“This would allow him to run all their operations under one roof without tripping on as many governance issues."
Despite growing speculation, several analysts remain skeptical that a merger is imminent.
Oppenheimer, which recently initiated coverage of SpaceX with an Outperform rating and a $190 price target, acknowledged that a future merger is possible but stopped short of endorsing the idea.
An eventual merger with Tesla is “plausible”, analyst Timothy Horan wrote, but he believes both companies are likely to remain separate public entities.
Oppenheimer argued that maintaining two publicly traded companies provides Musk with greater access to capital markets.
The brokerage said Musk's “longer-term vision of AI is best served by diversified, flexible access to capital” and that “having two public currencies supports that strategy most effectively.”
A merger between SpaceX and Tesla would be unprecedented in scale, potentially becoming the largest corporate merger in history.
With SpaceX closing at $161 on its first session, putting it at a valuation of roughly $2.1 trillion and Tesla currently valued at around $1.65 trillion, the two companies are almost of similar size.
According to Fortune columnist Shawn Tully, the most likely structure would involve SpaceX acting as the acquirer.
To complete such a transaction, SpaceX would need to issue new shares equivalent to roughly 94% of its existing share count, reflecting the relative valuations of the two companies.
Based on SpaceX's IPO filing, its share count could rise from about 4.1 billion shares to nearly 8 billion shares.
If the deal were completed near SpaceX's anticipated IPO valuation, the combined company would command a market capitalization of approximately $3.7 trillion.
Despite its strategic appeal, a merger would face significant financial and governance hurdles.
While a combined valuation of $3.7 trillion would be extraordinary, the merged company would not necessarily be highly profitable.
Based on recent financial results, the combined profits generated by the two companies would remain negative.
Both Tesla and SpaceX are pursuing capital-intensive growth strategies that require enormous investments.
SpaceX's IPO filing indicates it may need to raise additional capital through stock issuance and debt financing to fund projects such as Starship development, AI infrastructure, and orbital data centers.
Tesla is simultaneously ramping up spending on AI, robotics, and autonomous driving initiatives.
Critics argue that merging the two balance sheets would compound rather than solve these funding challenges.
According to David Trainer, CEO of research group New Constructs, SpaceX would need to achieve exceptionally ambitious financial targets to justify its current valuation, including approximately $248 billion in net income and $1.1 trillion in annual revenue by 2035.
A merger could also dilute existing SpaceX shareholders.
Under the scenario outlined by Tully, SpaceX investors would see their ownership stake fall from 100% to roughly 52%.
In exchange, they would acquire Tesla, which currently generates less than $4 billion in annual profit while requiring substantial capital expenditures of its own.
SpaceX shareholders would also inherit Tesla's substantial capital spending commitments, adding to the already enormous investments required to build out SpaceX's AI infrastructure.
Governance concerns could also emerge.
Legal experts say antitrust issues are unlikely because the companies operate in largely different industries.
However, questions around valuation, share-exchange ratios, parent-company structure, and shareholder approval could prove contentious.
Determining a fair price for both companies, deciding which entity would control the merged business, and addressing potential conflicts of interest involving Musk would likely become major points of debate among investors and regulators alike.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
Tesla, Inc. is transforming into an AI company, with its AI6 chip aiming to deliver record intelligence per silicon wafer at lower costs. TSLA's custom chips, optimized for internal use, could significantly reduce compute costs and improve margins across robotaxi, Optimus, and FSD businesses. Tesla is building excess chip capacity to supply data centers, with SpaceX and xAI as immediate captive markets, potentially unlocking new revenue streams.
Elon Musk rings the opening bell for the SpaceX IPO on Friday morning. Imagine missing the Tesla IPO. I understand the pull to invest in SpaceX (SPCX). But SpaceX at a $1.75 trillion valuation is a different ball game. Tesla went public at a valuation a thousand times smaller. And the Musk premium that powered Tesla’s run wasn’t baked into the IPO price. Investors got it for free. Neither is true at SpaceX. Those two differences aren’t even the most important argument to consider. If you’re still on the fence about buying SPCX: read on.
Two camps emerged from Thursday night’s pricing. The first sees the largest IPO in history, $75 billion raised, and reads it as a vote of confidence in American ambition. The second sees a $1.75 trillion valuation on a company that lost $4.94 billion last year on $18.67 billion in revenue and asks where the math comes from.
Both camps are answering the wrong question. The right one isn’t whether SpaceX is a great company. It is. The question is whether SpaceX is valued fairly.
The Tesla effect. Tesla’s run from a $1.7 billion IPO to a trillion-dollar valuation trained a generation of retail investors to interpret Musk-led volatility as a buying opportunity. Drawdowns of 30, 40, 60 percent in TSLA were correct ex-post to hold through. The lesson has been internalized as a rule: when a Musk company drops, you buy. That rule worked spectacularly. It is now being applied, unconsciously, to a company starting at roughly 1,000 times the Tesla IPO market cap.
The discipline that worked when Tesla was a $1.7 billion company will not work when SpaceX is a $1.75 trillion one. The math is different. The opportunity set is different. The base rate is different. Position sizing built on a small-cap conviction rule, applied to a mega-cap, is not conviction. It is a category error.
The behavioral term is the lottery effect: chasing the small probability of an outsized payoff while ignoring the much larger probability of a mediocre or negative one. University of Florida finance professor Jay Ritter’s data on four decades of US IPOs shows that listings of unprofitable companies underperform the market by roughly 30 percent over the following three years. SpaceX lost $4.94 billion last year. The lottery framing is not a metaphor. It is what the historical data say happens to companies that go public losing this much money.
The most expensive mistake a Tesla winner can make is to assume the rule that minted them generalizes. It doesn’t. Tesla minted you because of where Tesla started, not because of who runs it. The starting valuation is the variable. At $1.75 trillion, that variable is set against you.
A few structural facts about the IPO itself reinforce the point.
The early price is engineered, not discovered. SpaceX is floating roughly 4% of itself — some $75 billion of stock against trillions of dollars of global demand. The lockup is the tell. Instead of the standard 180-day cliff, the prospectus lays out a tiered release that lets insiders begin selling tranches after the first earnings report and continues in steps through day 180. Musk is exempt from the early provisions.
Add a microscopic float, MSCI fast-track inclusion 10 trading days after listing that triggers mechanical buying from passive funds tracking nearly $6 trillion in assets, a retail allocation originally targeted near 30 percent and cut to the low 20s as institutional demand overwhelmed the book, and a staggered insider exit that distributes into whatever pop the scarcity produces.
That isn’t price discovery. That is choreography.
We have seen this picture before. Saudi Aramco listed in December 2019 on a 1.5 percent float at a $1.7 trillion valuation, popped 10 percent on day one, briefly touched $2 trillion on day two, and now trades near 27 riyals against a 32 riyal IPO price, below where it came public more than six years later. Snowflake priced at $120 in September 2020, opened at $245, closed at $254, and today trades around $240. Opening-day buyers are still flat-to-negative on a five-and-a-half year hold. The opening weeks of SPCX will tell you nothing about what SpaceX is worth. They will tell you what scarcity, a Musk premium, and index flows produce when they collide.
S&P Dow Jones, notably, declined to fast-track SpaceX into the S&P 500. The profitability rule held. That should tell you something about what one major index committee thinks of the valuation.
The economics ask you to underwrite a company larger than any that has ever existed. At the $135 IPO price, SPCX trades at roughly 94 times trailing revenue. To justify the valuation on a conventional discounted cash flow, SpaceX has to grow into something north of $1 trillion in revenue and a few hundred billion in annual profit. For reference, Amazon does about $740 billion in revenue today and Alphabet does about $130 billion in annual profit. SPCX has to outgrow both.
The bulls have an answer. Morgan Stanley and Goldman project $160 billion in 2028 revenue, roughly nine times last year. New Street models 60 percent compound growth through 2030 and lands at a $165 target. Those numbers require Starlink to become a SaaS giant, Starship to reach commercial cadence, and xAI (folded into SpaceX in February) to compete with OpenAI and Google for orbital compute.
Each is arguably plausible on its own (though as an AI guy, I’m particularly skeptical of xAI). At this IPO price, you are paying upfront for all three bets to land. In contrast, Morningstar puts fair value at $780 billion — $63 a share against the $135 offer.
Who actually runs SpaceX. One more piece the coverage has glossed past. SpaceX is going public with Musk retaining 85 percent of voting power through Class B shares. Public shareholders will own an economic interest and almost no governance interest. There is no proxy fight available, no activist path, no board seat to recruit. If you disagree with how Musk is allocating capital between Starlink, Starship, and xAI, your only option is to sell.
Concentrated voting structures exist at other large tech companies. None of them are at $1.75 trillion with a CEO running multiple other major operations. The governance discount that should apply here is not modest. It is the difference between owning a piece of the seventh-largest company in the world and owning a piece of whatever the famously mercurial Musk decides it should be on a given Tuesday.
Where I could be wrong. If Starship hits weekly commercial cadence in 2027, if Starlink’s direct-to-cell business scales the way Morgan Stanley assumes, and if orbital compute proves out before terrestrial AI infrastructure saturates, $1.75 trillion could look cheap. I would not bet against any one of those individually. I am betting against all three at once, today, at this valuation.
For most of us the decision isn’t binary anyway. The moment SPCX enters the major indices, anyone with an S&P 500 fund or a total-market ETF owns it. The active question is whether to take additional concentrated exposure on top of the passive slug coming your way. My answer is no, not yet. Wait for the first earnings report. Wait for the lockup cascade. Wait for Starship cadence data the bulls can’t hand-wave away. What you want and when to buy it are two separate decisions.
The stock may go up. That doesn’t change the math. At $1.75 trillion you aren’t investing in SpaceX. You are subsidizing it.
Disclosure: I’m not an investment advisor; follow my advice at your own risk. I have no position in SPCX and no plans to take one.
Tesla (TSLA) shares fell on Friday as SpaceX made its stock market debut at $150 per share, fueling speculation among some investors that capital may be rotating from Tesla into SpaceX. Tesla stock was down by about 2.36% in late morning trading, after spending much of the morning swinging between mild gains and losses.
SpaceX's COO Gwynne Shotwell didn't dismiss the possibility of a tie-up with Tesla, Elon Musk's other trillion-dollar public company. A tie-up "might make Elon's life a little easier," Shotwell told CNBC, as SpaceX was preparing to hit the Nasdaq following the largest IPO on record.
Tesla (NASDAQ: TSLA | TSLA Price Prediction) and BYD (OTC: BYDDF) sit on opposite sides of the global EV map. Tesla’s Q1 2026 report delivered a margin rebound and another lift in AI subscriptions.
BYD, the Shenzhen volume leader, is being repositioned by Beijing’s anti-involution campaign aimed at consolidating EV winners. Both names have slid this year, making the matchup worth a fresh look in June.
Tesla’s Margin Snapback Meets BYD’s Policy Tailwind Tesla reported Q1 2026 revenue of $22.387 billion, up 15.78% year over year, with non-GAAP EPS of $0.41 beating consensus by 14.14%. Automotive gross margin expanded to 21.1% from 16.2% a year ago, helped by lower material costs, higher average selling prices, and a one-time warranty and tariff benefit.
Free cash flow jumped 117.47% to $1.444 billion, and cash sits at $44.743 billion. FSD active subscriptions hit 1.28 million, up 51%, turning software into a real recurring line.
The quarter had blemishes. Energy storage revenue fell 12% YoY, operating expenses jumped 37% on AI spending and the CEO equity award, and global inventory crept to 27 days from 22. Deliveries grew just 6%, so unit demand remains middling.
Business Driver Tesla BYD Q1 Auto Gross Margin 21.1% Not disclosed in available data Core Growth Engine FSD, premium models, AI hardware Mass-market EVs, PHEVs, batteries Management Focus Optimus, Cybercab, robotaxi rollout Scale, exports, policy alignment BYD enters the second half of 2026 positioned differently. Morningstar’s 2026 outlook names BYD as a likely beneficiary of China’s anti-involution policies, which shift capacity toward the largest and most profitable EV players. BYD shares are down 36.13% over the last 12 months, signaling investors are not yet convinced policy support translates into earnings.
Vertical Stack Versus Vertical Scale Tesla is funding a full vertical AI stack: FSD v14.3 cut inference latency by 20%, the AI5 chip taped out in April, and a SpaceX-partnered semiconductor fab is going up at Gigafactory Texas.
Cybercab, Tesla Semi, and Megapack 3 are all penciled for volume production this year. R&D climbed to $1.95 billion, a hefty bill for an automaker, modest for an AI platform. BYD owns the cell, pack, powertrain, and assembly line at the lowest cost in the industry.
Tesla chases margin through software. BYD chases share through affordability and a widening export footprint into Europe, LATAM, and Southeast Asia. Beijing’s intervention may let BYD convert that scale into pricing power.
What I Want to See Next For Tesla, Q2 deliveries are the next swing factor. Polymarket traders assign the highest probability, 35.8%, to a 450,000 to 475,000 vehicle range, with a California robotaxi launch priced at just 4% by June 30. I will watch whether FSD subscriptions keep compounding and whether the energy storage dip was a single-quarter blip.
For BYD, the read is whether policy reform lifts realized prices and whether export volumes keep climbing. Without fresh H1 results, I treat the BYD thesis as a working hypothesis rather than a confirmed setup.
Why I Lean Tesla on Quality, BYD on Value Tesla offers the cleaner, freshly confirmed quarter. Margin recovery, surging FSD attach, and an AI optionality stack hard to replicate argue for the Austin name. A trailing P/E near 371 on a $1.49 trillion market cap leaves little margin for error, especially with shares down 15.15% YTD and down 9.94% in the past week.
If you believe Chinese policy reform rewards the dominant EV maker, BYD at $11.05 after that drawdown offers more interesting risk-reward. I lean Tesla for execution clarity, though a pullback closer to its 52-week low of $288.77 would offer a more favorable entry profile. In June, neither looks like a layup.
Shares of SpaceX (NASDAQ:SPCX) are up 26% in midday trading Friday after the company completed the largest IPO in history. SPCX stock traded near $170, well above the $150 open and the $135 IPO price set Thursday night. This ranks among the most closely watched NASDAQ debuts in years.
The SpaceX session has been volatile by any measure. The day’s range stretched from $150 to more than $175, capturing the IPO-day churn analysts had warned about heading in. About 555.6 million shares were priced at $135 each, raising a record $75 billion at an IPO valuation near $1.77 trillion that dwarfs every prior listing.
The NASDAQ debut also reshapes the global wealth leaderboard. With SPCX stock surging, Tesla (NASDAQ:TSLA | TSLA Price Prediction) CEO Elon Musk is officially the world’s first trillionaire.
How Musk’s Wealth Crossed $1 Trillion Musk holds 42% of SpaceX equity and 82% of voting control through Class B shares, a structure laid out in the company’s S-1 filing. With SPCX trading near $158 around midday, his SpaceX stake alone is valued at about $869.4 billion.
His roughly 717 million Tesla shares are worth about $278.2 billion at around $388 per share. Combined, the SpaceX and Tesla stakes total approximately $1.147 trillion, before counting Neuralink, the Boring Company, and other private holdings.
The Bear Case Surrounding SPCX Stock SpaceX revenue is driven largely by Starlink, the satellite broadband network reaching paying customers across 164 countries. Q1 2026 revenue came in at $4,694 million with adjusted EBITDA of $1,127 million. However, SpaceX still posted a loss from operations of $1.943 billion as capital spending on Starship, the xAI merger, and orbital AI data centers ramps.
Governance is another concern for new SpaceX shareholders. Class B shares carry ten votes each versus one for Class A, leaving Musk with effective control of board composition and most shareholder votes. SpaceX qualifies as a “controlled company” under NASDAQ rules and intends to rely on the corresponding governance exemptions.
Analysts have also cautioned about the typical IPO selloff pattern, where early backers and pre-IPO holders look to monetize gains once trading windows open. The gap between Thursday’s $135 pricing and Friday’s $150 open already shows how quickly SPCX sentiment can shift on a day like this. Volume and intraday swings could intensify into the close.
Tesla’s Indirect Exposure to the SpaceX Print Tesla stock closed Thursday at $399.15, leaving TSLA shares down 11% year to date (YTD) but up 22% over the past year; the share price is practically unchanged as of Friday afternoon. The TSLA stock slide this year stands in contrast to today’s SpaceX excitement, even though both companies share Musk and overlapping strategic projects.
Tesla disclosed a $2 billion equity stake in SpaceX in its Q1 2026 filing, alongside a joint semiconductor fab at the Gigafactory Texas campus. The vertically integrated chip program gives Tesla holders indirect exposure to today’s SpaceX valuation, even before factoring in Musk’s personal cross-ownership.
What Investors Should Watch From Here Reddit sentiment on SPCX stock skewed bearish into the open, with r/investing scoring 24 and a viral r/stocks post titled “People are treating SpaceX like a guaranteed lottery ticket” drawing 1,337 upvotes and 991 comments. The r/WallStreetBets crowd registered a more enthusiastic 50 sentiment reading, capturing the familiar split between fundamental caution and short-term speculation around SpaceX.
Investors can keep an eye on SPCX stock into the close to see whether the 26% pop holds or fades as pre-IPO holders consider trimming. Lockup expirations and the first wave of sell-side initiations could shape the next leg for SpaceX stock.
Tesla shareholders may want to watch for any pull-through from the SpaceX valuation in the coming sessions. The Musk premium has historically traveled between his companies, and a record IPO debut is an unusually loud reference point for the entire ecosystem.
SpaceX just rewrote the IPO record book. The company sold more than 555 million shares at $135 each, raising $75 billion and landing a valuation of nearly $1.8 trillion.
The companies led by Elon Musk have become increasingly intertwined in the past couple of years. These firms have shared employees and purchased batteries, software, and vehicles from each other.
'The Big Money Show' panel discusses SpaceX's historic IPO, Elon Musk's soaring valuation and whether investors should buy into the aerospace giant's blockbuster market debut.
CNBC Wealth Editor correspondent Robert Frank delivered a milestone moment on air this morning, saying: “By the end of today, Elon Musk will likely become the world’s first trillionaire.” This comes as the result of the long-awaited SpaceX IPO, which is poised to revalue Musk’s privately held stake at public-market multiples and push his net worth past a threshold no individual has ever crossed.
The Tesla and SpaceX Stack On the Tesla side, Frank pegged Musk’s stake at “around $260 billion“ as of yesterday’s close, a figure that “includes those options worth about $120 billion that were tied up in court for a while. He got those back.” Tesla (NASDAQ:TSLA | TSLA Price Prediction) carries a market cap of $1.49 trillion and trades at $396.82, down 11.24% year to date but still up 22.28% over the past year. Tesla’s Q1 FY26 revenue of $22.39 billion (+15.8% YoY) and its disclosed $2 billion equity investment in SpaceX tightened the financial link between the two companies before today’s listing.
The SpaceX line is where the math gets historic. Frank cited the S-1 directly: “On SpaceX, the S-1 filing lists him with 6.4 billion shares. At an IPO price of $130 to $135 a share, his SpaceX stake would be worth $690 billion.” He noted that Musk excludes 1.3 billion SpaceX shares from the calculation because they do not vest until milestones tied to Mars colonization or massive compute targets are met.
The $140 Threshold for SpaceX Adding it up, Frank said: “That brings SpaceX and Tesla together to $950 billion. Adding Neuralink, Boring, other assets probably worth $10-20 [billion], that brings him right now to a total of about $970 billion.”
However, Musk can easily reach his fourth comma in his net worth if SpaceX stock moves higher: “SpaceX shares need to stay above $140 a share for Musk to be the first person in the world to receive the fourth comma in his net worth.” As of 2:43 PM ET on June 12, SpaceX stock currently trades at nearly $170, meaning Musk would reach trillionaire status today if the price holds.
Thousands of New Millionaires Beyond the headline number, Frank highlighted the wealth-creation cascade rippling through SpaceX’s payroll. “And the thousands and thousands of millionaires that are being created by this IPO… people joined this company in the early 2000s. Nobody knew what it was. They thought they were crazy to join. They took below-market salaries in exchange for stock that, who knew?” It is a textbook case of long-duration equity compensation paying off at scale, and a reminder of how concentrated the upside of speculative tech bets can become.
The Public-Market Proxy For investors without access to SpaceX, Rocket Lab (NASDAQ:RKLB) remains the closest listed comparison in launch services. Shares trade at $104.64 with a market cap of nearly $69.7 billion, up 319.52% over the past year. Q1 FY26 brought record revenue of $200.35 million (+63.5% YoY) and a $2.2 billion backlog, with CEO Peter Beck calling it “another exceptional quarter”.
What To Watch Next The first thing to watch is whether SpaceX can hold above Frank’s $140 reference price once trading begins. Strong demand suggests a positive opening, but heavily oversubscribed IPOs can also be volatile as early investors take profits.
Beyond the debut, investors should pay attention to the growing ties between SpaceX and Tesla. Tesla has invested $2 billion in SpaceX and is partnering on a semiconductor fabrication facility at Gigafactory Texas. As the relationship between the two companies deepens, developments at SpaceX could become increasingly relevant for Tesla shareholders as well.
Tesla (NASDAQ:TSLA | TSLA Price Prediction) CEO Elon Musk made history earlier today by reportedly becoming the world’s first trillionaire, fueled largely by SpaceX‘s (NASDAQ:SPCX) blockbuster NASDAQ debut. Yet, Tesla stock is barely budging on the news, trading near $403 and up 1% in midday action on Friday.
The disconnect is hard to ignore. Musk’s combined SpaceX and Tesla stakes are now worth around $1.147 trillion, but Tesla stock is down 11% in 2026 while the broader market has rallied. That gap is the central question driving today’s debate over whether TSLA shares have quietly turned into dead weight in growth portfolios.
For context, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY), which tracks the S&P 500, is up 9% year to date, leaving Tesla stock roughly 20 percentage points behind the index. Investors who held through 2025 aren’t panicking yet, though. Over the trailing 12 months, Tesla stock is still up 26%, so this is specifically a 2026 underperformance story.
Musk’s Trillionaire Day Highlights the Tesla Disconnect The irony is hard to miss. SpaceX priced its IPO at $135, opened at $150, and soared as much as 30% on Friday, instantly minting Musk’s trillionaire status. Meanwhile, Tesla stock has spent 2026 grinding sideways to lower.
Part of the issue is sentiment. Reddit discussion in fundamental investing communities like r/stocks and r/stockmarket has skewed bearish, with a viral post titled “Elon Musk wants to merge SpaceX and Tesla into a $3.4 trillion giant. The problem: it would lose money from day one” drawing heavy engagement.
The prediction markets echo that skepticism about Tesla’s standalone value. Polymarket traders assign a 93% probability that SpaceX will be worth more than Tesla by June 30, a striking reversal in how investors rank Musk’s two flagship ventures.
The Bear Case: Why TSLA Stock Could Be Dead Weight The bear thesis on Tesla stock starts with its valuation. TSLA shares trade at a trailing P/E ratio of 370x and a forward P/E ratio of 192x, multiples that demand flawless execution.
Tesla’s recent results show why some investors are uneasy. The company’s energy generation and storage revenue declined 12% year over year in Q1 2026, while Tesla’s global vehicle inventory rose to 27 days of supply from 22 days. Furthermore, Tesla booked $222 million in digital asset losses during the quarter.
The prediction markets also throw cold water on the near-term catalyst narrative for Tesla stock. Polymarket gives only a 5% probability that Tesla launches robotaxis in California by June 30, and just 17% odds that Optimus is released by year-end 2026.
The Bull Case: Tesla Is Still Executing The other side of the Tesla story is genuinely strong. Q1 2026 revenue grew 16% year over year to $22.39 billion, and automotive gross margin expanded to 21% from 16%.
Tesla’s software momentum is real, too. Active Full Self-Driving subscriptions hit 1.28 million, up 51% year over year, and Services and Other revenue jumped 42% to $3.75 billion. Tesla also grew free cash flow 117% year over year to $1.44 billion.
Analyst sentiment remains constructive on balance. The consensus analyst TSLA stock price target sits at $420, with 18 Buy and 5 Strong Buy ratings against 4 Sell and 3 Strong Sell calls.
What to Watch Next So, is Tesla stock dead weight? The honest answer is that it depends on one’s time frame and patience level. The 2026 underperformance is real, the valuation is stretched, and Musk’s attention may genuinely be split between SpaceX, xAI, and Tesla.
However, Tesla’s core business is still growing, FSD adoption is accelerating, and the company sits on $44.74 billion in cash. Investors weighing their exposure may want to size their positions modestly here rather than chase or capitulate.
The next anticipated checkpoint is Tesla’s Q2 2026 deliveries, where prediction markets center on a 450,000 to 475,000 vehicle range at 35% probability. That print could decide whether TSLA shares finally rejoin the broader market rally or keep dragging behind it.
All eyes might be on the SpaceX IPO — the world's largest in history — and its CEO Elon Musk. But lest you forget there is another publicly traded company in the Musk universe that many believe will someday merge with SpaceX.
As Elon Musk is poised to be crowned the world's first trillionaire, Bloomberg's Max Chafkin and Ed Ludlow break down Musk's growing control of SpaceX, the possibility of a Tesla, SpaceX merger, and why investors will follow Musk to the Moon, despite mounting questions about governance and execution. -------- More on Bloomberg Television and Markets Like this video?
SpaceX, AI infrastructure, data centers, Starlink, satellites, Mars, and artificial intelligence are becoming increasingly connected. Jared Blikre speaks with Xplore COO Lisa Rich about why investors may be underestimating SpaceX's AI ambitions, how data centers in space could become reality, and what the next decade could look like for the space economy.
On "Forbes Talks," Forbes Executive Editor Luisa Kroll and Forbes Reporter Matt Durot discuss Elon Musk becoming the world's first trillionaire after the IPO of SpaceX.
