Elon Musk has noticed that the two companies he runs are both, in a sense, his, and he has proposed putting them in one box.
Musk says there is “a lot to be gained.” He did not say what. Nobody in the room asked, because nobody in the room has ever asked him anything he didn’t want to answer.
The biggest merger in history would join a rocket company whose valuation rests mostly on a story about Mars with a car company whose share price rests mostly on a story about robots. Shareholders have been told this is synergy. Synergy is the word executives use when they have not yet done the math.
Why would anyone want this? Because one corporate structure lets one man move money, engineers, and attention between companies without asking a board to approve the paperwork. That is not a strategy. That is a wallet with a logo.
Regulators will be asked to bless the largest combination of its kind on record. They will take a meeting, schedule a hearing, and wait for the press release to explain itself.
The merged entity will need a name. Expect something with a hyphen and a letter that doesn’t belong to any alphabet.