Good question. It apparently started as a subsidiary and then converted to a separate company owned by Elon Musk though SpaceX still has a 6% stake. See https

Good question. It apparently started as a subsidiary and then converted to a separate company owned by Elon Musk though SpaceX still has a 6% stake. See https://en.wikipedia.org/wiki/The_Boring_Company https://en.wikipedia.org/wiki/The_Boring_Company for verification.