Tesla reveals $573M web of transactions between Elon Musk's companies
Tesla's amended 2025 annual filing reveals $573 million in revenue from transactions with Elon Musk's affiliated companies, including SpaceX and xAI. The company also incurred millions in expenses by paying Musk-owned entities for services ranging from advertising to security. A $2 billion investment intended for xAI ultimately converted into a minority stake in SpaceX due to a corporate restructuring.
- ▪Tesla recognized $143.3 million in revenue from SpaceX, primarily from Cybertruck sales.
- ▪Tesla recorded $430.1 million in revenue from xAI through Megapack energy storage sales for data centers.
- ▪Tesla paid $3.3 million in advertising on X, $900,000 to The Boring Company, and $4.8 million to Musk's personal security firm.
- ▪Tesla's $2 billion investment in xAI converted into SpaceX Class A common stock after SpaceX acquired xAI Holdings.
- ▪Tesla also transacted with Redwood Materials, paying $3.3 million and receiving $12.9 million in cost-of-revenue reductions.
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