Amid Tesla’s ongoing stock price decline, SpaceX has overtaken the electric vehicle maker as Elon Musk’s most valuable asset. Tesla’s stock took a significant hit following Musk’s increasing involvement with the Department of Government Efficiency (DOGE) during Donald Trump’s administration.
The automaker’s stock has plummeted 50% from its December high, raising concerns among investors about Musk’s ability to effectively manage both Tesla and DOGE simultaneously.
The situation worsened in January when Tesla reported disappointing financial results. The company’s revenue only grew by 1%, reaching $97.7 billion, while its net profit dropped for the second year in a row, falling to $8.4 billion.
To make matters worse, reports of declining vehicle sales in major markets like Germany, China, and Australia surfaced at the beginning of 2025, further compounding Tesla’s challenges.
Meanwhile, SpaceX’s value has soared. Musk’s 42% stake in the space exploration company is now valued at $147 billion, surpassing his Tesla holdings by nearly $20 billion.
SpaceX’s revenue surged by 51%, reaching $13.1 billion in 2024. Additionally, its Starlink satellite internet service is expected to generate $8.2 billion in revenue, nearly doubling its previous figures.
SpaceX and Tesla account for over 80% of Musk’s estimated net worth of $329 billion.
SpaceX continues to make significant strides in the space industry. Recently, in collaboration with NASA, the company successfully brought astronauts Sunita Williams and Butch Wilmore back from a 286-day mission aboard the SpaceX Dragon capsule.
