Tesla investor Dave Lee suggested to Elon Musk to form a holding company in Twitter. “Good idea,” Elon Musk responded. Lee held that a holding company would work for the many ventures that Musk controls.
I propose @elonmusk to form a holding company called X.— Dave Lee (@heydave7) December 23, 2020
X’s mission is to ensure human survival and progress.
X becomes parent company of Tesla, SpaceX, Neuralink and Boring Company.
Elon, what do you think? 🙏
- Musk is the CEO of multiple companies, including SpaceX, Tesla Inc., Neuralink, and The Boring Company.
- While Tesla is public, the other companies that Musk leads remain privately held.
- SpaceX has plans to spin off Starlink into an IPO while the Boring Company seeks to dig tunnels underground to tackle traffic congestion.
- If Musk forms a parent company for its multiple entities, he will join ranks with other firms such as Google, which restructured in 2015 with Alphabet becoming its parent company.
Tesla stock is currently declining. TSLA: NASDAQ is down 0.27% on the premarket.