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Musk Inc is under serious threat
The world’s richest man has lost focus. His competitors are taking advantage.
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Tesla and SpaceX, which account for around 90 per cent of the value Mr Elon Musk's corporate empire and probably all its profit, are facing increasingly stiff competition
PHOTO: AFP
The Economist
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Until recently Mr Elon Musk had little need to look over his shoulder. He once described competition for Tesla, his electric vehicle (EV) company, as “the enormous flood of gasoline cars pouring out of the world’s factories every day”, rather than the “small trickle” of other EV makers. SpaceX, his rocket firm, had so undercut and outwitted the bloated aerospace incumbents that it had developed an almost invincible aura.
Yet if Mr Musk can tear himself away from the intoxication of shredding the American government, he may notice something. It is not just that the political firestorms he has whipped up in 2025 are singeing his companies’ brands. It is that the two businesses that underpin his corporate empire – accounting for around 90 per cent of its value and probably all its profit – are facing increasingly stiff competition. The world’s richest man has lost focus – and now has a target on his back.
