Elon Musk, the wealthiest man ever, may soon see his fortunes diverge as Tesla faces a rollercoaster ride while SpaceX's valuation continues to move in a step function.

The transaction was part of Musk’s year-end tax planning. The recipients “have no current intention to sell” the shares, the Securities and Exchange Commission filing said.

Tesla (NASDAQ: TSLA) stock had a banner year in 2024. Shares of the electric vehicle (EV) leader soared by over 62%. Many investors surmised that CEO Elon Musk's position as a Donald Trump advisor will benefit both the company and its shareholders.

After a monstrous stock rally following November’s presidential election, Tesla (TSLA) reported its first annual decline in electric vehicle delivery, highlighting the growing disconnect between its high-flying stock price and its core automobile business.

The shares dropped more than 6% to start a new year of trading after the company reported weaker-than-expected fourth-quarter deliveries.