u/No_Distance_4905

There are a lot of discussions surrounding this topic. Personally I don't see it happening. I don't understand the value in merging these two. The main issue from Musk standpoint is the dilution. Here is the math.

Tesla: $1.35 trillion, Musk's stake is about 20.3% including vested options (roughly 15% in shares alone).

SpaceX: $1.86 trillion, Musk owns 48.4% of the economics but over 82% of the votes via super-voting Class B shares.

So at this moment relative to SpaceX alone, he'd be diluted from 48.4% down to ~36.5%. Relative to Tesla alone, he'd actually go up (20.3% → 36.5%).

Ways around it:

• Keep voting control separate from economics - keep power but lower total ownership, Tesla shareholders would give up control

• Skew the exchange ratio in Tesla's favor - poses significant legal risks, majority-of-the-minority shareholder vote would need to bless any above-market terms

• Buy more Tesla stock first

• Merge companies only when Tesla value is significantly less than SpaceX

Bottom line: "no dilution" is only achievable if he either games the exchange ratio (legally risky) or leans entirely on super-voting shares to preserve control rather than economic ownership. Merger always means he is paying $SPCX equity for $TSLA. But the more SpaceX is worth the less he is diluting himself.

What do you guys think? What am I missing?

I have a question which have been wondering about. Heat protection (shield) during the re-entry of Neutron rocket from Rocket Lab.

Elon Musk highlighted a few years back this topic is their biggest challenge with Starship. However didn't find much info from Rocket Lab. What found is they developed structural carbon composite to withstand the heat. I don't find this answer sufficient since they have been vocal about using Neutron beyond Earth's orbit.

Can you please help me understand if their approach is possible? ls there something am missing like Neutron going lower altitude for example. In which case Neutron is quite limited in future potential? Thx.

I have a question which I have been wondering about. Heat protection (shield) during the re-entry of Neutron rocket from Rocket Lab.

Elon Musk highlighted a few years back this topic is their biggest challenge with Starship. However I didn't find much info from Rocket Lab. What I found is they developed structural carbon composite to withstand the heat. I don't find this answer sufficient since they have been vocal about using Neutron beyond Earth's orbit.

Can you please help me understand if their approach is possible? Is there something I am missing like Neutron going lower altitude for example. In which case Neutron is quite limited in future potential? Thx.