Musk

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 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.

Elon Musk’s latest comments come days before Mukesh Ambani’s low-cost Reliance Jio’s parent launches India’s largest-ever initial public offering.

‌Billionaire entrepreneur Elon Musk has said he would price his Starlink satellite internet service affordably ⁠in India to take ⁠on Mukesh Ambani’s low-cost Reliance Jio, escalating his attacks on the rival tycoon days before Jio’s parent launches the country’s largest-ever initial public offering (IPO).

Jio Platforms, ⁠which owns the telecom arm, is targeting a valuation of $106bn in the offering. Much like SpaceX-owned Starlink, Jio’s satellite venture is also awaiting final ⁠security clearance to launch.

Cheap data is the playbook that built Jio in India, and the one Musk has used in markets like Kenya to unsettle local telecom players. SpaceX now plans to enter the mobile carrier market itself, starting in ‌the United States.

Musk did not specify prices for India, where mobile data costs about rupees 7.74 ($0.08) per gigabyte, among the lowest in the world.

“Obviously, if Starlink is too expensive in India, no one will buy it, so SpaceX will need to make pricing affordable,” he said in a post on his social media platform X on Saturday.

“The reality is that ⁠competition would greatly benefit the average citizen in India by ⁠giving them more choices, as it always does. Ambani’s profits will be lower, but he is not going out of business,” Musk added.

‘Prime Minister Ambani’

Musk’s remarks were the latest in ⁠a series of X posts in which he accused Prime Minister Narendra Modi’s government and Ambani of stalling Starlink’s entry ⁠into one of the world’s biggest internet markets to ⁠favour market leader Jio.

The posts have marked a sharp turn for Musk, who has long enjoyed a warm public rapport with Modi.

India’s government has denied any bias in its approval process, ‌noting that the three satellite ventures seeking to launch, including Starlink’s and Jio’s, are all awaiting final security clearance.

Late on Friday, Musk taunted Ambani directly, addressing ‌him as “Prime ‌Minister Ambani” and asking whether he would “consider allowing Starlink to compete”.

Reliance has not responded to Musk’s remarks.

Is there anything more worrisome about today’s tech titans than the fact that they present as abundance-minded optimists but in actuality are gluttonous, scorched-earth pessimists? Documentarian Alex Gibney is no stranger to dissections of corrupting power — from his feature dives into Enron, Elizabeth Holmes and Scientology. He frames his deeply researched four-hour psych eval “Musk” as the reality check we all need when the world’s richest, most cult-powerful human keeps pushing migration to Mars. Musk might need Earth to become uninhabitable to justify the trip.

Musk’s Tesla cars, SpaceX rockets and Starlink satellites have inspired awe while his “dark MAGA” politics, limited knowledge and petty ego have made him plutocrat Enemy No. 1. Other behavior-coded prisms through which to view Musk — an immigrant whom American fascists love — include his oft-stated belief that we’re living in a simulation. He also loves video games. Gibney sporadically complements his archival materials and many interviews with the metaphoric imagery of player-one gaming: toggling between identities, first-person shooter modes. He also shrewdly compares Musk to the protagonist of a 1930s film adapted from an H.G. Wells story, “The Man Who Could Work Miracles,” about an ordinary guy bestowed with world-altering powers by the gods. (It doesn’t go well.)

There’s even a computer-generated Elon, a by-product of Gibney not securing a face-to-face interview with the tycoon himself. Avatar Musk, meant to appear like AI slop and spouting commentary culled from the totality of his recorded interviews, is pretty gimmicky. But its strangeness also seems appropriate, considering the epic oddity of the South African’s ascension from mistrusted Silicon Valley wannabe to ever-confident cheerleader for space dreams and electric vehicles. Musk is savvy at securing investment, whether his shiny pronouncements about the future prove real or not. It’s why Gibney’s surest, most clear-eyed take is that Musk is less a visionary than a self-promoter — selling Autopilot in Teslas when it led to deaths, being recklessly bullish about AI — and the greatest artificial stock-pumper of all time.

Musk’s forthright, crusty dad Errol sounds almost proud that something was bullied out of his son, but the movie avoids filling out that traumatic childhood. More heartbreaking is ex-wife Justine Musk’s well-articulated experience of Musk’s cruel domestic side — especially where trans daughter Jenna was involved. Ashley St. Clair, the right-wing influencer and one of Musk’s many baby mamas, chillingly completes the portrait of someone who sees fatherhood as an NDA arrangement to help facilitate a genetic army. She watched him up close as he cozied up to Donald Trump, grew his online fandom after taking over Twitter and consolidated his data power. St. Clair simply calls him a “nuke,” one that might readily self-detonate at the slightest bruising of his self-image.

With a built-in intermission dividing his rise (SpaceX, Tesla) from his rightward shift (Twitter, Trump), it’s wild how much the documentary’s second half makes you long for the garden variety tech-bro obnoxiousness of the first. The running time seems a lot for one’s tolerance of a supervillain story and not enough, since the story of DOGE, a venal propaganda folly with a human cost, really needs its own separate feature.

Even a four-hour “Musk” can’t keep up with the unelected trillionaire’s financially self-serving governmental meddling, considering the recent news of his involvement in a Department of Defense AI warfare study. Maybe his conning can be curtailed someday, but the thought there’d ever be enough distracting chaos for a similarly lengthy follow-up is almost too much to bear.