AdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.Some shareholders might object, but there is little they could do, legal experts say.Listen · 9:57 min Elon Musk is the chief executive of the electric car company Tesla and SpaceX, the rocket company.

Some investors and fans of Mr. Musk think he should merge the two businesses into one.Credit...Mikayla Whitmore for The New York Times, Meridith Kohut for The New York TimesJune 17, 2026Updated 4:39 p.m. ETSpaceX held the biggest initial public offering of all time, but Wall Street may be expecting something even bigger from Elon Musk, the rocket company’s chief executive.Many of his fans and investors expect him to merge SpaceX with Tesla, the maker of electric cars where he is also chief executive, joining most of his businesses into a single roughly $4 trillion tech conglomerate, a sort of Elon, Inc.Investors, analysts and even a top SpaceX executive have talked about the merits of such a deal on social media, in research notes and in a TV interview.

The two companies have long shared executives and other resources and are jointly developing multibillion dollar projects.Because Mr. Musk controls SpaceX and is Tesla’s largest shareholder, he would essentially be making a deal with himself. That would raise legal issues and probably prompt lawsuits claiming that he ran roughshod over the interests of other shareholders.But no legal action is likely to stop Mr.

Musk, legal experts say. Corporate law in Texas, where Tesla and SpaceX have their corporate domiciles, makes it very difficult for unhappy investors to challenge management decisions.Tesla relocated to Texas from Delaware last year after Mr. Musk expressed dismay about a state court ruling — later overturned — that challenged a 2018 pay package that helped pad the fortune of the world’s richest person.

SpaceX moved to the Lone Star state, from Delaware, in 2024.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?

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