Tesla and SpaceX merger math

There are a lot of discussions surrounding this topic. Personally I don't see it happening. I don't understand the value in merging these two. The main issue from Musk standpoint is the dilution. Here is the math. Tesla: $1.35 trillion, Musk's stake is about 20.3% including vested options (roughly 15% in shares alone). SpaceX: $1.86 trillion, Musk owns 48.4% of the economics but over 82% of the votes via super-voting Class B shares. So at this moment relative to SpaceX alone, he'd be diluted fro