this post was submitted on 30 Jul 2024
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127
Tesla Reports Profit Drop On Price Cuts, Lower Vehicle Sales (www.ibtimes.co.uk)
submitted 3 months ago by [email protected] to c/[email protected]
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Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on autonomous driving and other technology.

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[–] [email protected] 24 points 3 months ago (2 children)

Booted? They just voted him a 55 billion dollar bonus.

This is exactly what his investors want apparently.

[–] [email protected] 6 points 3 months ago* (last edited 3 months ago)

It's so hilarious IMO, by the rate they made money this past quarter, it will take Tesla 10 years, just to earn that $55 billion bonus back.

[–] [email protected] 1 points 3 months ago (2 children)

Did that pass?

[–] [email protected] 5 points 3 months ago

It did pass and is tied to performance of the company. He doesn’t actually get a 55B bonus. His bonus is in the form of stock, its award is tiered based on revenue-tied performance, and he can’t sell the stock until 5 years after it’s awarded, as to prevent a pump-and-dump incentive structure.