Tesla earned $573 million last year by helping other companies of Elon Musk.

How Elon Musk’s business is gradually consolidating: key figures for 2025

This year, under the hood of SpaceX, two new players emerged – xAI and the social network X. The key ones remain Neuralink and The Boring Company, while Tesla, being a public company, cannot participate in deals as an ordinary holding. It is its financial reporting that reveals the interconnections between Musk’s companies.

What the latest Tesla report showed
Electrek drew attention to Tesla’s 10‑K (formal report) filed with the SEC at the end of April. It details the movement of funds between Tesla and other enterprises that Elon Musk wholly or partially owns.

* Revenue from transactions with subsidiaries – $573 million for 2025.

* Interaction expenses – $24.8 million.

Thus, over the year Tesla earned more than 23 times what it spent on collaborating with other “Musk” companies. With the company’s total revenue of $97.7 million this is only a small portion of its income, but the report clearly demonstrates the nature of their interconnections.

Key deals outside the report
Electrek notes two key transactions that did not appear in the 10‑K:

1. Tesla’s investment in xAI – $2 million (agreed in mid‑January).

2. Purchase of SpaceX xAI – a few weeks after the first deal. As a result, Tesla shareholders received an equity stake in SpaceX, but due to the lack of mandatory disclosure of its size it can be assumed that it does not exceed 1 % of the aerospace company’s total capital.

Summary
* Revenue: $573 million (supplies and services to other Musk companies).

* Expenses: $24.8 million.

* Total Tesla revenue for 2025: $97.7 million.

These figures show that although Tesla remains largely an independent public company, its financial flows with other “Musk” projects are already forming a sustainable ecosystem.