DOMINANT ANGLE
Paris is weighing in on the operation from a financial angle: combined valuations of over $3,400 billion, control of capital by Elon Musk, and a vote by shareholders of the two groups.
Dominant angle identified — does not reflect unanimity of this country’s media
KEY POINTS
- 01
SpaceX is worth around $2,000 billion on the stock market and Tesla around $1,450 billion, according to Le Monde.
- 02
Elon Musk owns the majority of SpaceX's capital but less than 15% of Tesla (Le Monde).
- 03
Special committees of independent administrators, created at the request of shareholders, have not yet found an agreement on the terms (BFMTV, Le Monde).
ANALYSIS
Paris, October 21, 2026. The French press reports on an expected confirmation: on Tuesday, October 20, during the conference call on SpaceX's financial results, Elon Musk admitted that Tesla and SpaceX are studying a merger. "I think it would be a good idea, but it will really depend on the special committees of the two companies," he said, according to BFMTV, which sees this as the first official confirmation of talks.
Le Monde quantifies the stakes. SpaceX is worth around $2,000 billion on the stock market (around 1,780 billion euros), Tesla around $1,450 billion. A merger would create "one of the most valued companies in the world". The newspaper highlights the asymmetry of control: Elon Musk owns the majority of SpaceX's capital, which he founded with his profits from the sale of PayPal in 2002, but less than 15% of Tesla.
The two titles relay the governance mechanism described by the leader. The special committees, composed of independent administrators, were set up at the request of shareholders, who should ultimately approve an agreement. Elon Musk, "in a conflict of interest", says he does not participate in their discussions. He considers it premature to assume that a merger will take place: the committees have not agreed on the terms of a transaction and may never do so.
On the industrial level, BFMTV cites the list given by Elon Musk: "the development of superintelligence software, the design of chips, (...) robotics, mass launch into orbit (...), as well as connectivity". Le Monde writes that this rapprochement "follows an industrial logic, as SpaceX and Tesla are intertwined".
BFMTV also recalls that SpaceX had published a profit largely exceeding expectations in the third quarter, with revenue more than doubled. The French narrative thus remains focused on valuation, capital control, and shareholder voting, rather than on regulation or sovereignty issues, which are hardly addressed in the available excerpts.
