Musk's empire appears to be built primarily on the value of Tesla stock which has a P/E ratio of about 140 vs the more common 7-ish range. If Tesla was valued similarly to other car manufacturers, the stock price would be around $15/share instead of today's prices in the $285 range or a peak value of around $480.
And part of that appears to be because Tesla continues to produce EVs even though they are not selling to get the carbon credits they then sell to other automakers.
All that said, he regularly [co-mingles assets](https://www.cnbc.com/2024/06/04/elon-musk-told-nvidia-to-ship-ai-chips-reserved-for-tesla-to-x-xai.html) and [personnel between projects](https://www.cnbc.com/2022/10/31/elon-musk-has-pulled-more-than-50-tesla-engineers-into-twitter.html).
Even setting aside such items, since he uses the TSLA stock to leverage nearly all his other ventures, doing things like [buying Twitter and turning it into a more extremist site](https://www.nbcnews.com/tech/social-media/elon-musk-x-twitter-antisemitism-hashtags-trending-hate-rcna151945) drove off advertisers, reduced the value of the purchased property, and both directly and indirectly harmed the value of TSLA by driving off both investors and consumers (generally, people who buy EVs are more likely to be left-leaning while the racists tend to prefer gas guzzlers).
On top of all this, he has a [history ](https://www.cnbc.com/2023/02/24/musks-twitter-has-been-sued-by-at-least-six-companies-for-unpaid-bills.html)of [not paying his bills](https://www.datacenterdynamics.com/en/news/wiwynn-sues-elon-musks-xtwitter-over-unpaid-server-bills/#:~:text=Hyperscale%20server%20maker%20Wiwynn%20is,and%20is%20seeking%20%2461m). And has been sued for trying to manipulate stock prices [through outrageous claims](https://www.barrons.com/articles/elon-musk-sec-lawsuit-twitter-d2640adc) and [non-disclosure](https://www.reuters.com/markets/deals/musk-sued-by-twitter-investors-delayed-disclosure-stake-2022-05-26/).
With recent TSLA value drops, there have been recent rumors (not linking/promoting these -- you can find the videos on YouTube, Insta, and TT if you want) that his recent activities are driving down the price and that he may try to saddle all his debt on TSLA then spin up IPOs for SpaceX and/or Starlink.
I already sold off my TSLA stock a while back, so I am not seeking personal financial advice.
I'm mostly curious about whether using TSLA to buy/fund these other companies and forcing the other shareholders in TSLA to bear the brunt of his personal decisions could give shareholders a legal interest in those companies.
Would this potentially prevent him from dumping all his debt on TSLA shareholders while starting a couple of IPOs to give himself a fresh start? I mean, when most companies spin off another entity, there's usually some sort of compensation, right? Stock, payments, etc.
