Elon

Elon Musk has said he likes the idea of a merger of Tesla and SpaceX, two of his most notable companies, and it is under active consideration.

“Do I think it would be a good idea? Yes,” Musk said during a call with financial analysts over the quarterly business results of SpaceX on Tuesday.

While Musk noted the certainty of such a merger should not be assumed, and it would need shareholders’ support, he said special committees within both companies have been formed to examine the move.

“The special committees have not reached agreement on terms of any transaction and there’s no guarantee that they will,” Musk added. “But I do think there is a lot of merit to merging and a lot to be gained.”

With Tesla valued roughly $1.5 trillion and SpaceX valued at $2 trillion, a combination of the two companies would mark one of the largest mergers in history.

Shares of SpaceX rose 8% in after hours trading.

The company, which builds space rockets and Starlink internet satellites, is now expanding into offering cloud compute capacity for other tech companies, like Anthropic and Google.

That line of business has become the most profitable part of SpaceX, bringing in $7.5bn according to the latest quarterly results. Starlink also tallied revenue of $5.2bn.

SpaceX as a whole, however, is not profitable and has lost $1.1bn so far this year.

Shares of Tesla, which reports its own quarterly results on Wednesday, rose 2% after being down slightly for weeks.

Over the last year, Musk has taken to bringing more of his various companies under fewer banners. Before it went public earlier this year, SpaceX acquired xAI and X, the platform formerly known as Twitter, both of which Musk owned.

The recent launch of Terafab, a combined effort to manufacture computer chips between Tesla and SpaceX, was another signal that Musk sees his companies as potentially more effective when working together.

Musk said on Tuesday a full merger between the two companies would make sense for the work each is doing around chips, artificial intelligence, software and more.

The Trump administration argues that DOGE is exempt from freedom of information requirements.

The United States Supreme Court has agreed to hear arguments in a watchdog’s lawsuit seeking public records about trillionaire Elon Musk’s Department of Government Efficiency (DOGE).

The high court is intervening on Tuesday for a second time in Citizens for Responsibility and Ethics (CREW) in Washington’s case, which seeks access to DOGE records from its operations in the early days of US President Donald Trump’s second term. The Trump administration asked the court to hear the case.

Last year, the high court reined in a district court’s order for the government to produce DOGE-related records to CREW. The high court’s conservative majority concluded in June 2025 that US District Judge Christopher Cooper ruled too broadly in ordering documents to be turned over to the group.

CREW claims DOGE is a federal agency and therefore is subject to the Freedom of Information Act (FOIA).

The Trump administration argues that DOGE is exempt from FOIA’s requirements as a presidential advisory body.

Cooper ruled in CREW’s favour and ordered expedited processing of the group’s records request. An appeals court panel also sided with CREW.

The Trump administration claims the panel ignored the Supreme Court’s direction to consider separation-of-powers concerns and intruded on the “autonomy and confidentiality” of presidential advisers.

“Subjecting advisory bodies to intrusive discovery triggers the very concerns that Congress sought to avoid by excluding presidential advisory bodies from FOIA’s reach,” US Department of Justice lawyers wrote.

The administration also says the appeals court impermissibly authorised the plaintiffs to take a sworn deposition of DOGE acting administrator Amy Gleason.

CREW says the appeals court fully complied with the Supreme Court’s previous order. The group also asserts that the public has a right to know how DOGE helped the administration carry out a sweeping overhaul of government operations in 2025.

“Undisputed facts in the public record — including the President’s statements — confirmed that (DOGE) was wielding enormous independent authority across the federal government,” CREW lawyers wrote.

In a statement Tuesday, CREW lawyer Nikhel Sus said the lower courts have uniformly ruled that it is entitled to records that could help the court determine whether DOGE wields the type of authority that would make it subject to the Freedom of Information Act.

“We will continue to pursue transparency for the American people, who deserve to know the details of the Trump Administration’s efforts to unilaterally remake the federal government,” Sus said in the statement.

DOGE said it had slashed tens of billions of dollars in expenditures, but its claims were difficult for outside financial experts to verify.

Federal auditors found that some of DOGE’s reported savings across contract, grant and ⁠lease terminations were incorrect, lacked supporting evidence or included terminations that were already under way when DOGE was established, according to ⁠a report by the Government Accountability Office.

WASHINGTON — The Supreme Court agreed Tuesday to hear arguments in a watchdog’s lawsuit seeking public records about trillionaire Elon Musk’s Department of Government Efficiency.

The high court is intervening for a second time in Citizens for Responsibility and Ethics in Washington’s case, which seeks access to DOGE records from its operations in the early days of President Trump’s second term. The Trump administration asked the court to hear the case.

Last year, the high court reined in a district court’s order for the government to produce DOGE-related records to CREW. The high court’s conservative majority concluded in June 2025 that U.S. District Judge Christopher Cooper ruled too broadly in ordering documents to be turned over to the group.

CREW claims DOGE is a federal agency and therefore is subject to the Freedom of Information Act.

The Trump administration argues that DOGE is exempt from FOIA’s requirements as a presidential advisory body.

Cooper ruled in CREW’s favor and ordered expedited processing of the group’s records request. An appeals court panel also sided with CREW.

The Trump administration claims the panel ignored the Supreme Court’s direction to consider separation-of-powers concerns and intruded on the “autonomy and confidentiality” of presidential advisers.

“Subjecting advisory bodies to intrusive discovery triggers the very concerns that Congress sought to avoid by excluding presidential advisory bodies from FOIA’s reach,” Justice Department attorneys wrote.

The administration also says the appeals court impermissibly authorized the plaintiffs to take a sworn deposition of DOGE acting administrator Amy Gleason.

CREW says the appeals court fully complied with the Supreme Court’s previous order. The group also asserts that the public has a right to know how DOGE helped the administration carry out a sweeping overhaul of government operations in 2025.

“Undisputed facts in the public record — including the President’s statements — confirmed that (DOGE) was wielding enormous independent authority across the federal government,” its attorneys wrote.

Kunzelman writes for the Associated Press.

The barrage of spending comes as Republicans fight to overcome Trump’s declining popularity and cost of living concerns.

Elon Musk, the trillionaire tech mogul and backer of far-right causes, has reportedly spent $366m since last year to buoy the Republican Party in the United States midterm elections.

The New York Times first reported on Monday that Musk has spent $276m since July alone, including $158m for a super PAC focused on Republican Senate candidates, making him the largest single donor this year.

Musk is considered a close ally of President Donald Trump, the leader of the Republican Party, and was a special government adviser to the White House last year.

Musk’s political action committee, America PAC, has confirmed the spending totals. In a statement to The New York Times, a spokesperson framed the record amount as necessary to defend Congress from a Democratic takeover during the midterm races.

“These robust investments have allowed the GOP apparatus to get its message out so Republicans can have a fighting chance to defy history,” America PAC spokesman Andrew Romeo told the Times.

The barrage of spending by Musk comes as Republican candidates are fighting to overcome Trump’s low popularity and rising concerns about the cost of living among US voters.

Democrats are hoping to capitalise on voter dissatisfaction with Trump’s tenure to seize control of Congress, where Republicans currently hold majorities in both the House of Representatives and the Senate.

The influence of wealthy donors and PACs has long been the subject of criticism. Opponents argue that such spending distorts US politics in favour of powerful interests.

Musk became the world’s first trillionaire in June, when his aerospace company SpaceX made its initial public offering (IPO) on the Nasdaq stock exchange.

The tech entrepreneur had previously said that he planned to step back from his involvement in US politics, stating in May that he had “done enough” and did not have plans for large spending efforts.

Still, Musk has leveraged his tech holdings and wealth to support right-wing groups around the world.

Last year, for instance, politicians in Germany accused Musk of trying to meddle in the national election. Musk has been a vocal backer of the Alternative for Germany (AfD) party, which has been accused of adopting a discriminatory stance on immigration and other issues.

Voters in the US will head to the polls on November 3 to cast their ballots in the midterms, which will decide key state and local races, as well as congressional majorities.

The Republican Party is considered to have a sizeable financial advantage over the Democrats ahead of the race, with heavy spending from groups such as MAGA Inc, a pro-Trump super PAC named for the president’s “Make America Great Again” movement.

As of August, MAGA Inc reportedly had $416m in its coffers. The tracking site AdImpact found that it had spent $22m over the past month alone on the tight race unfolding for the open Senate seat in Texas.

Trump has also increased his campaign activities, hosting a string of rallies in the final weeks before the election to help Republicans push their message.

But Democrats appear confident that the Republicans’ spending advantage will not be enough to counter the effects of growing dissatisfaction with Trump.

“Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president and unpopular economy,” said Lauren French, a spokesperson for Democrats’ Senate Majority PAC.

NEW YORK — Elon Musk, the world’s only trillionaire, has quietly become the biggest known donor in this year’s midterm elections, doling out more than $276 million since July to try to save Republican majorities in Congress.

The numbers, first reported by the New York Times ahead of this week’s federal filing deadline, were confirmed by Andrew Romeo, a spokesperson for Musk’s super PAC.

The money includes $158 million given to the Senate Leadership Fund, the main super PAC supporting Republican Senate candidates, one of the largest known political donations in American history, according to the Times.

Another $76 million went to America PAC, a Musk super PAC, which has once again built out a major turnout operation like the one it used to help elect President Trump by knocking on doors in 2024.

Musk also provided $10 million to Lone Star Liberty PAC, a group that supports the Republican nominee for Senate in Texas, Ken Paxton. The race has been a major focus of Musk’s efforts.

It’s a dramatic turnaround since last May, when Musk said he intended to cut back on future political spending. “I think I’ve done enough,” he said at the time.

Despite the cash infusion, Musk has generally kept a lower profile than in 2024, when he appeared on stage next to Trump at rallies, and in the early days of the president’s second term, when he led the Department of Government Efficiency.

He had a falling out with Trump while leaving his government post, but the two have since reconciled. Trump presented Musk with the National Medal of Science last week.

Musk’s net worth has fluctuated around the trillion-dollar line this year based on changes in stock prices, but he topped $1 trillion again last week according to Forbes magazine.

Republican have a gaping financial advantage over their Democratic counterparts — a disparity that has been a rare bright spot for a party that is bracing for major potential losses amid deep voter frustration over the president’s performance, stubbornly high prices and the unpopular war with Iran.

They have been using the money to blanket the airwaves in the race’s final stretch.

“These robust investments have allowed the G.O.P. apparatus to get its message out so Republicans can have a fighting chance to defy history,” Romeo told the Times.

Democrats responded to the news by accusing Republicans of using vast amounts of cash to mask their shortcomings.

“Republicans are hoping to buy these elections, injecting tens of millions into races to try and outrun their unpopular candidates, unpopular president, and unpopular economy,” said Lauren French, a spokesperson for Democrats’ Senate Majority PAC.

Colvin writes for the Associated Press.