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Breitbart’s nod to Elon Musk is so, so scary
Breitbart News Network featured a story this week on its website called “Elon Musk’s Tesla Stock Up $2 Billion Since Joining Trump’s Team.” The story argues that, as a result of recent Tesla stock increases, Musk owes allegiance to Donald Trump. Attention from the far-right Breitbart website, which is the most viewed U.S. conservative news, opinion, and commentary source in the U.S., comes at a time in which Elon Musk’s reputation has been questioned by his once-loyal following.
Why is the Breitbart story such bad timing for Musk?
Breitbart is known as the most significant misinformation site on the Internet. Privileging one set of representations over another, discourses like those typical within the Breitbart publication tend to claim the status of truth. Their discourses, which work as truth statements, make it difficult for many readers to identify how reality is shaped. Breitbart’s executive chairman, Steve Bannon, aligned the site so specifically toward a Trump vision of the world during the 2016 Presidential election that employees began to raise concerns about it being little more than a “fan club” for Trump.
Moreover, the right-wing outlet has been accused by some as being a hate site. Breitbart engages in coordinated plans to bring their particular brand of intolerance to the political realm in because their style of propaganda works well. Linked to relations of power, the Breitbart stories tend to be constructed and reinforced by those in professional positions like Bannon who hold a particular authority and, thus, create knowledge about certain subjects like climate change, health care, and trade.
In the article about Elon Musk this week, Breitbart referred to individuals who seek equality for all as “the left’s social justice warriors” and described Twitter reactions to Musk’s collaboration with Trump as “vicious colorful language that cannot be reported.” The implication here is that Musk followers are immoral, disreputable people whose language is so coarse that it is would clearly offend the enlightened Breitbart readership.
Yes, this was a week in which the Tesla Motors, Inc. CEO found himself defending his position on Trump’s executive order that limits immigration from seven predominantly Muslim countries. Musk has become a target of malaise due to his role on Trump’s manufacturing council. Disgruntled fans tweeted about how Musk could design a Mars mission but fail to retract a “BS Muslim ban;” what ownership of the competitor’s Chevy Volt would be like; and, his position on AG Sally Yates’ dismissal over the immigration issue. Some tweets, on the other hand, also supported Musk and implored him “to make a positive impact.”
Breitbart recounted that Musk’s attendance on “an official White House committee” (i.e. the Strategic and Policy Forum) on January 27 generated controversy. Breitbart characterized the comments as “mournful,” which cast Musk as leader of a losing battle to limit anthropogenic climate change through decentralized energy, especially the remarkable Tesla electric vehicle line. Breitbart noted Musk’s reply, which included, “It’s getting me down. I’m just trying to make a positive contribution & hope good comes of it.” Interestingly, the publication allowed Musk’s empathy and altruism to shine through the otherwise negative narrative.
Breitbart also added in the article that, “when it comes to U.S. employment and manufacturing, Musk’s companies are near or at the top as the fastest-growing players.” It seems clear from this statement that the Trump administration recognizes the power that Elon Musk has to create U.S. jobs and further the country’s emergence from the biggest economic downturn since the Great Depression. Breitbart’s care in recognizing Musk’s wherewithal suggests that the Trump administration is looking down the GNP road and wants to keep Musk close by, regardless of Musk’s opposite political beliefs and progressive values, just in case.
Musk’s use of Twitter to inform, educate, and empower
Twitter can be a site where democracy, messy as it can be, is at its best. Twitter’s multiple viewpoints allow for rich, if sometimes uncomfortable discourse. Musk understands this and engages in conversations with the public as a means of communication, education, and empowerment. For example, he wanted his followers to be intimately knowledgeable with the immigration order and to let him know “specific amendments,” which he would then bring to the advisory council to seek “consensus & present to President” Trump.
Please read immigration order. Lmk specific amendments. Will seek advisory council consensus & present to President. https://t.co/qLpbsP4lEk
— Elon Musk (@elonmusk) January 29, 2017
Indeed, Musk asked his followers to read “the source material” of the immigration ban; it is a way to infuse voices of reason and expertise rather than emotion and hyperbole into the conversation. That request, in turn, fostered a conversation about the importance of reading original documents and reports, rather than relying on tertiary sources for deconstruction and explanation. It was a lesson that many could have learned during the 2016 Presidential campaign, which was rife with fake news.
Yes, the order is still bad, but it is always important to read the source material
— Elon Musk (@elonmusk) January 30, 2017
Rather than the “Trump / Musk charm offensive” that Breitbart suggests is the reason for Tesla’s rising stock prices, perhaps we should look to the Trump effect as just one of multiple reasons why Tesla is on the rise. The acquisition of Solar/City, the announcement of solar roof tiles, the 2017 production of the new Model 3, production at the Nevada Gigafactory, SpaceX series of successes… the list of recent accomplishments is quite long. Investors like to back a winner, and, even if Musk must hold his nose as he negotiates with Donald Trump and his advisers, the value of Tesla will continue to be robust.
It’s just not the White House that so many of us, Musk included, envisioned just a few months ago. And Breitbart’s entry to the field is scary enough for many of us to take notice. Be strong, Elon; you’re going to need tenacity to stay a step ahead. We know you’ll probably have to step up more than you originally anticipated when you agreed to serve. Thanks for taking on this huge responsibility on behalf of U.S. progressives.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
