SpaceX is a more attractive Elon Musk company than Tesla or SolarCity

SpaceX launch 2017

SpaceX is driving down the cost of satellite launches. As of a couple of years ago, the average cost per launch for SpaceX was $61 million. In a few years, with SpaceX’s reusable rocket technology, it’s possible that the cost per launch could drop through the floor to $5 million to $7 million.

Investors love Elon Musk’s vision and his companies. He’s regularly hailed as our generation’s Thomas Edison.

Tesla is up nearly 80 percent year to date and by more than 1,000 percent in the past 5 years. It’s more valuable than GM or Ford even though they sell a fraction of the cars. As the only public company in his empire (now that it’s acquired SolarCity), Tesla gets the vast majority of attention.

Yet Elon’s SpaceX could be the most valuable of any Musk company, and it should get far more attention than it does.

Read Eric’s commentary on CNBC