Tesla investors could see their shares swapped into a single Musk mega-company, a big shift with unclear payoff for current shareholders.

• CNBC reports Musk has floated merging Tesla into SpaceX under one parent company called X Holdings.
• The easiest path would be a stock merger where Tesla shares get swapped for SpaceX shares — roughly 4 Tesla shares for 1 SpaceX share.
• This would put Musk in control of both companies and pull everything — Tesla, SpaceX, Optimus, Dojo, his AI chips — under one roof.
• The Tesla stock ticker (TSLA) would disappear, replaced by SpaceX.

Outlook: Nothing is official yet, but pressure is building for some kind of Tesla-SpaceX combination.