alt Hacker NewsTesla is profitable, as a matter of public record. And SpaceX is, by all accounts, extremely profitable.
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They had like $16B in revenue last year, half from Starlink.
That’s just money in the door and the underwriters seem to think the business is worth $1.75T.
It is less about profitability and more about dilution of ownership. He seems to have a pattern of diluting the ownership of his profitable companies by folding in his less profitable/failed companies. You still own a share of a profitable company, but a smaller share, to his benefit.
Im also profitable as an individual. I made a $100 this week, which makes me worth at least $30M.
SpaceX was profitable before the xAI thing happened. Now I imagine they're way in the red.
As was Enron
Have you looked at their latest report?
They are only profitable because of subsidies. Pretty much 1:1.
Pretty decent video released today by Wall Street Millennial that looks at the profitability of SpaceX (as part of looking at 'Terafab') :
SpaceX was surely more profitable before it was used to bail out Elon's xAI which was used to bailout his purchase of Twitter.
just because a bunch of rockets went up without blowing up, does not mean they are profitable. it cost money to shot rocket, and it is very expensive, reusable or not. most launches are internal launch without external paying customers.
How much of that profit was due to public subsidies of the sort that he killed for other companies but not for himself during his tenure as a special government employee?
Genuine question, how do you know that without a 10K? Have the filed any document that shows their finances?
Tesla’s profits and market share has been declining for the past few years and it’s basically an overpriced meme stock.
SpaceX is _not_ profitable by most reasonable measurements of accounting. If you discount rocket depreciation costs and R&D, then yeah its profitable from starlink revenue.