Elon Musk says Tesla and SpaceX have helped create significant wealth for hundreds of thousands of employees while also boosting retirement savings for hundreds of millions of people through their investments in the stock market.

Musk made the remarks Saturday, October 31, in a post on X, highlighting the financial impact his two companies have had on workers and ordinary investors as both businesses continue to expand.

“Tesla and SpaceX have created meaningful wealth for hundreds of thousands of employees over time and improved the retirement savings of hundreds of millions of people,” Musk wrote.

The statement highlights a central part of the compensation strategy at both companies: giving employees opportunities to own shares or receive stock options so they can benefit financially as the businesses grow. Rather than limiting the rewards of company success to executives and major investors, the approach allows employees to build personal wealth through their ownership stakes.

At Tesla, stock ownership has been an important component of employee compensation. The company's 2025 annual report listed 134,785 employees worldwide and said 92% of its employees were included in total rewards packages emphasizing stock ownership opportunities. That approach gives workers a financial stake in the company's long-term performance, although the value of those holdings can fluctuate with the stock price.

SpaceX has followed a similar approach, providing employees with equity and stock options during the company's development. Its June 2026 public offering brought years of privately held company equity into the public market, allowing eligible employees and longtime shareholders to gain access to publicly traded shares. Reports surrounding the offering indicated that thousands of current and former employees stood to become millionaires through their company holdings.

Musk's comments also addressed the broader impact of the companies on Americans who do not work for either business. Tesla is a major publicly traded company and is included in major stock indexes, meaning its shares are held indirectly by millions of Americans through index funds, mutual funds, retirement accounts and pension plans.

Many workers invest in funds that track the performance of the broader stock market rather than purchasing individual company shares. When those funds hold Tesla stock, investors can benefit when the company's market value increases, even if they have never directly purchased Tesla shares themselves. The same exposure can also work in reverse, however, since declines in the company's stock price can reduce the value of those investments.

Tesla's presence in retirement portfolios reflects the growing influence of large technology and manufacturing companies in the American financial system. Its performance can affect investors well beyond its direct shareholders, particularly those whose retirement savings are tied to funds that track major market indexes.

Musk's claim comes as Tesla and SpaceX continue to expand their operations and pursue increasingly ambitious projects. Tesla has been investing in electric vehicles, energy storage, autonomous driving technology and robotics, while SpaceX has expanded its rocket launches, satellite internet network and other space-related operations.

The two companies have also been discussing a potential merger, a development that could bring their businesses under a single corporate structure. Reuters reported last week that both companies had established special committees to consider a possible deal, which could combine Tesla's manufacturing and energy operations with SpaceX's launch, satellite and space infrastructure businesses.

Musk did not provide a specific dollar figure for the wealth created through employee stock ownership or identify precisely how many workers have benefited. He also did not break down the retirement accounts included in his estimate of hundreds of millions of people.

Nevertheless, his remarks underscore the financial reach of companies whose stock is held by employees, individual investors, and large retirement funds. As Tesla and SpaceX continue to grow, their performance remains closely tied to the financial interests of both their workforces and a much broader investor base.