this post was submitted on 30 Jul 2024
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128
Tesla Reports Profit Drop On Price Cuts, Lower Vehicle Sales (www.ibtimes.co.uk)
submitted 3 months ago by rosschie@lemdro.id to c/technology@lemmy.world
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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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[–] HootinNHollerin@lemmy.world 30 points 3 months ago (1 children)

I can’t believe they haven’t booted musk yet

[–] mosiacmango@lemm.ee 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.

[–] Buffalox@lemmy.world 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.

[–] HootinNHollerin@lemmy.world 1 points 3 months ago (2 children)

Did that pass?

[–] eltrain123@lemmy.world 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.