SpaceX Dethrones Tesla As Elon Musk's Most Valuable Asset For The First Time Since 2019 - Tesla (NASDAQ:TSLA)

Elon Musk’s SpaceX has surpassed Tesla Inc. TSLA to become his most valuable asset as Tesla's stock continues to crash.

What Happened: Tesla’s stock value has seen a significant drop, following Musk’s deep involvement in President Donald Trump‘s Department of Government Efficiency (DOGE). This development led to a 50% plunge in Tesla’s stock from its December high as investors questioned Musk’s ability to juggle his responsibilities at Tesla and DOGE.

The situation worsened for Tesla in January as it reported a meager 1% revenue growth to $97.7 billion in 2024, with net income falling for the second consecutive year to $8.4 billion. Additionally, reports of declining Tesla car sales in Germany, China, and Australia in early 2025 have added to the company’s woes. Meanwhile, protests against Tesla and Elon Musk have broken out at Tesla dealerships across the U.S. since February.

On the other hand, SpaceX’s value has skyrocketed. According to Forbes Musk’s 42% stake in SpaceX at $147 billion is nearly $20 billion more than his Tesla stock and options. Industry analyst Payload Space revealed that SpaceX’s revenue grew by 51% to $13.1 billion in 2024, with projected revenue from SpaceX's Starlink satellite internet service nearly doubling to $8.2 billion. For the first time since 2019, SpaceX has become Elon Musk’s most valuable asset, as per Forbes.

Notably, SpaceX and Tesla continue to account for over 80% of Musk's estimated $329 billion net worth.

Why It Matters: The shift in Musk’s most valuable asset comes at a time when Tesla is facing a crisis of confidence among investors. Top analyst and Tesla bull, Dan Ives of Wedbush has urged Musk to reaffirm his commitment to Tesla and outline a clear plan for the launch of its new lower-cost vehicles and full-self-driving car.

Meanwhile, SpaceX continues to make strides in the space industry. SpaceX in collaboration with NASA facilitated the successful return of NASA astronauts Sunita Williams and Butch Wilmore from a 286-day mission aboard a SpaceX Dragon capsule.

Tesla stock has plunged more than 30% over the past month. On Thursday, it closed at $236.26. Despite the challenges, Musk remains hopeful about Tesla’s future, stating that the company will “be fine long-term.”