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00:02Investor Gary Black of the Future Fund reiterated opposition to a potential SpaceX.
00:07Tesla merger in posts on X, warning it would harm investors through stock dilution.
00:11He said equity-backed acquisitions are unpopular and cited a failed Netflix attempt to acquire
00:17Warner Brothers Discovery, which led to a stock decline before recovery after the deal was
00:21abandoned. Black said institutional investors would avoid a SpaceX IPO if the company planned
00:26to acquire Tesla using equity. He questioned the demand for a rumored $50 billion IPO under
00:32that scenario. Black also said a merger could reduce Tesla's value by 20% to 25% and trigger
00:38selling by investors focused on its EV strategy. For all things money, visit Benzinga.com.
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