this post was submitted on 23 Jul 2024
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Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans (apnews.com)
submitted 4 months ago by [email protected] to c/[email protected]
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Big declines in TSLA profitability this past quarter.

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[–] [email protected] 25 points 4 months ago (1 children)

1.5 billion in profit? How the hell does that justify 54 Billion in payment, how is the company profitable?

[–] [email protected] 6 points 4 months ago

I hate Musk but it was reportedly structured around share price targets

https://www.cbsnews.com/news/elon-musk-pay-package-vote-cbs-news-explains/

"The pay deal is structured to deliver several rounds of stock options that will allow Musk to buy about 304 million shares of Tesla stock. Musk is able to receive each round of options after the company hits certain milestones — such as when Tesla reached a market value of $100 billion, and then at every $50 billion mark beyond that. (Currently, Tesla's market cap is about $580 billion.)"