Elk Musk's SpaceX is now worth more than Tesla

SpaceX, the space company of Elon Musk, is worth more than its electric car company, Tesla, at least on paper.

SpaceX has a value of $ 33.3 billion, investors told CNBC Friday at the latest cycle of the company. Tesla's market capitalization was $ 32.8 billion at the end of the trading session on Friday.

Musk is the largest shareholder and CEO of both companies, with a 54% stake in SpaceX and a stake of more than 20% in Tesla.

SpaceX recently successfully launched 60 Starlink satellites into orbit and has raised more than $ 1.02 billion since the beginning of 2019. Tesla shares have declined more than 44% over the same period.

The electric vehicle manufacturer has struggled to control its spending, while focusing on its future in China. His efforts to set up a plant in Shanghai began this year as US-China trade relations deteriorated rapidly.

Until Tesla can manufacture its model 3 electric sedans, it is subject to heavy import taxes in China. It also faces higher prices for parts and raw materials purchased from Chinese suppliers to manufacture its batteries and cars in the United States.

Morgan Stanley analyst Adam Jonas said (at the May 22 call) that investors should not rule out the possibility of Musk using its stake in SpaceX to "guarantee" Tesla. "Elon Musk has already had a precedent to think about his portfolio of companies," he said, referring to Tesla's acquisition of SolarCity in 2016.

The transaction cost Tesla about $ 5 billion. She issued $ 2 billion in stock and took about $ 3 billion in SolarCity debt. It was also perceived as a bailout for Musk and his family – his cousin Lyndon Rive was the CEO of the residential solar installer, while Elon Musk and other friends and family members had personally invested in SolarCity.