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Tesla authorized to convert its investment in xAI into an equity stake in SpaceX
Tesla has received government approval to convert its investment in Elon Musk’s xAI into a small stake in SpaceX, officially establishing the financial link between the billionaire’s two core companies before the rocket manufacturer plans to go public.
Documents filed with the U.S. Federal Trade Commission (FTC) show that Tesla acquired a partial stake in SpaceX from Musk, who is also CEO of both companies. The document, dated March 11, also indicates that Musk sold some of his holdings to investors including Valor Equity Partners and DFJ Growth.
While such filings require disclosure of transactions exceeding $133.9 million, specific details such as the exact shareholding percentages were not disclosed.
Tesla, SpaceX, Musk, Valor Equity, DFJ Growth, and the FTC did not immediately respond to requests for comment.