Elon Musk's corporate structure has drawn scrutiny for the volume of cash flowing between his various business ventures. According to TechCrunch Mobility's latest report, SpaceX's IPO filing documents transactions between Musk-controlled companies at a scale that raises questions about corporate integration.
SpaceX spent $506 million on Tesla's Megapack energy storage products in 2025, nearly triple the prior year. The aerospace company also ordered $131 million in Cybertrucks from Tesla.
The Boring Company received $1 million from SpaceX for tunnel construction in Bastrop, Texas. X leased space from The Boring Company for $1 million.
SpaceX, Tesla, xAI, X, and The Boring Company operate as interconnected entities, with resources moving freely among them. Tesla is publicly traded and already discloses related-party transactions, but the SpaceX filing brings the full scope of intra-company dealings into view. With xAI now merged into SpaceX, all transactions occur within a single corporate structure.
The arrangement raises questions about corporate governance and regulatory oversight that companies of this scale typically face.
