SpaceX and Tesla form merger committees, Musk steps aside
Independent director panels will explore a deal between the two companies, with the CEO recused from both.

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Independent director panels will explore a deal between the two companies, with the CEO recused from both.
The CEO of both companies is a 'conflicted party' watching independent directors negotiate a tie-up that would create a $3.5 trillion giant he would own about a third of.
Elon Musk's rocket company posts a profit while AI spending surges - a sign that its satellite and AI bets are paying off.
The next Starship test flight targets a first for orbital launch: catching both the Super Heavy booster and Ship upper stage with the launch tower's chopstick arms.
Musk says the launch tower will try to grab the returning booster, aiming to make history by recovering an entire orbital launch vehicle for the first time.
Musk's plan to hand every American child a SpaceX share worth $10.5B raises questions about wealth, AI, and whether money will even matter.
The Tesla and SpaceX CEO's gift would amount to roughly 1% of his net worth, turning millions of minors into private-company shareholders.
Tech leaders want the shares given directly to Americans, not parked in a foundation.
The ban lands days before the film's wider release and amid escalating scrutiny of billionaire-owned platforms.
The Tesla CEO's latest reveal came at SpaceX, not Tesla, signaling where vertical mobility is headed.
The billionaire claims the world's first flying car, but the real stakes are the regulatory scramble and the blurring line between auto and aerospace.
SpaceX is expanding its satellite fleet on a contrarian bet that robotics, not people, will fuel the next surge in connectivity demand.