Musk Takes a Bow, a16z Changes Lanes and Meta Doubles Its Share Count

SpaceX’s October 22 10-Q with the SEC disclosed that any potential combination with Tesla “would be subject to further approval by our special committee, our board of directors and our controlling shareholder.” Elon Musk, the controlling shareholder, controls roughly 85% of SpaceX’s voting power, while both companies formed special committees on October 20 to evaluate a proposed deal analysts estimate could create a combined entity worth around $3.5 trillion.

Musk recused himself from the merger talks and described staying out as “an odd kabuki dance where two groups of people are talking, and I can’t be in the conversation.” He explained: “I mean, this is definitely kind of a question where I feel like I’m tap dancing through a minefield. But so I have to be thoughtful about what I say here.” Fireside Alpha (@firesidealpha) posted on October 20, 2026: “I think so both SpaceX and Tesla have formed special committees… https://t.co/10Hc1mrbfk pic.twitter.com/LYwYW0y14u” Reuters reported that Musk’s public endorsement of the deal earlier this month created a “mess” for the independent process, with insiders saying it complicated the special committees’ ability to negotiate at arm’s length.

Critics are pointing to Tesla’s 2016 SolarCity acquisition—another conflicted transaction that cleared Delaware courts—as the closest governance precedent, while SpaceX’s own investor disclosures have flagged Musk’s overlapping interests as a material risk. Tesla shareholders must clear a 50%-of-all-outstanding-shares threshold, not a simpler majority of votes cast, a standard Musk himself called “quite a high hurdle.” REX Financial estimates the merged company would give him roughly 57% of combined voting power. Tesla’s annual meeting is December 3.

Andreessen Horowitz, the venture capital firm better known as a16z, is renaming its crypto fund “a16z Frontier” and widening its mandate to AI and other emerging technologies, according to an email shared with its newsletter subscribers on Thursday. The firm is among the crypto industry’s biggest backers, and Chris Dixon, a general partner, runs its crypto team.

Meta’s board has approved a new class of non-voting stock, and every holder of Class A and Class B shares will receive one new share for each share they own. The company disclosed the plan on Wednesday with its third-quarter results, and the Class C shares come into existence on Jan. 19, 2027. The one-for-one dividend works as a two-for-one stock split, and Meta says it will not change anyone’s voting power.