Elon Musk’s most valuable asset as Tesla’s stock continues to tumble. The shift marks the first time in five years the rocket company has meant more to Musk’s pockets than his automotive company. Forbes estimates that the Department of Government Efficiency chief’s 42 percent slice of SpaceX is worth $147 billion—almost $20 billion more than his Tesla shares.

Much of the attention around Tesla has centered on its recent delivery performance in Jan. and Feb. in Europe and China,” wrote Narayan. Early 2025 sales results for Tesla ha