SpaceX: A Futuristic Berkshire Hathaway, or Just a Mess?

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SpaceX founder and CEO Elon Musk speaks via video on a screen at the Nasdaq Marketsite during the company's initial public offering.

Elon Musk’s bid to combine SpaceX SPCX -6.02%decrease; down pointing triangle and Tesla TSLA -0.60%decrease; down pointing triangle might be good for Musk. It looks less so for shareholders—especially Tesla’s.

A combination would bring under one roof Musk’s main business pursuits, streamlining the sprawling empire of the world’s richest person.

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