TechCrunch Industry News Bye-bye corporate conglomerates. Hello personal conglomerates.
Feb 2, 2026
A deep dive into the trend of one person building multiple powerful companies and how that recalls past industrial giants. Comparisons are drawn between modern tech empires and historical conglomerates. The conversation explores interconnections between major tech ventures, the limits of conglomerate strategies, and how wealth, influence, and regulation shape such ambitions.
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Modern-Day Industrial Span
- Elon Musk now spans industries once held by conglomerates, combining aerospace, energy, healthcare, mobility, and media.
- His companies have started interacting more, hinting at a shift from separate ventures to an integrated personal conglomerate.
Individual Versus Company Blur
- Musk resembles past conglomerate leaders more than a single-company CEO because his net worth and influence blur company boundaries.
- Recent investments and collaborations (Tesla, SpaceX and XAI) signal increasing convergence among his firms.
Welch's Growth-First Playbook
- Jack Welch reshaped GE by massive layoffs and aggressive acquisitions, growing market value dramatically.
- Welch's regime became a management model emulated across corporate America during the 1980s and 1990s.