SpaceX early investor: The merger of SpaceX and Tesla "is only a matter of time"

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After SpaceX goes public, it will merge with Tesla; to an early investor, this is seen as a certainty, with the only debate being about timing. The core logic of this judgment points to Musk's ambition to consolidate control over his business empire.

SpaceX early investor and XPrize Foundation founder Peter Diamandis said on Wednesday that the merger is "not a question of if, but when."

He noted that the key driving factor behind this deal is the voting rights structure: Musk holds up to 85.1% control of SpaceX (according to pre-IPO figures), but at already-listed Tesla, his influence faces much more checks and challenges from shareholders.

According to media reports in January this year, Musk had already discussed such deals, prior to the integration of SpaceX with xAI. Diamandis also revealed that he communicated with Musk on this topic in both January and March this year.

Diamandis was an early investor in SpaceX in the late 2000s, and is also a serial entrepreneur and podcast host. In the early 1990s, he founded the XPrize Foundation, establishing a $10 million prize to encourage teams to develop reusable manned spacecraft and complete two space flights within two weeks.

Control Logic: The Core Driver of the Merger

Diamandis believes the fundamental motivation for the merger comes from Musk's desire for a unified control structure.

SpaceX's super voting rights grant Musk near absolute dominance in corporate governance, while Tesla's status as a public company means it faces ongoing challenges from shareholders regarding compensation packages and governance.

Merging the two companies would give Musk the ability to operate a unified infrastructure ecosystem.

Diamandis stated that this would enable him to simultaneously control Tesla's ground vehicle fleet and SpaceX's space infrastructure, including the Starship program.

Business Landscape: Global Infrastructure on Ground and in Space

From a business standpoint, the merged entity would integrate Tesla's ground mobility network with SpaceX's space infrastructure.

Diamandis described this vision as a "global infrastructure on ground and in space", specifically including the Cybercab robotaxi fleet as well as Tesla vehicles equipped with computing and energy capabilities.

SpaceX is currently preparing for its IPO in June this year, which is expected to be one of the largest tech stock launches in history.

After the IPO, if the merger with Tesla proceeds, it would involve a stock swap or acquisition between two massive listed companies. The complexity and regulatory challenges should not be underestimated.

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