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Mystery of why Tesla is spending 20k on X

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Tesla has been actively creating and maintaining accounts on Elon Musk’s X, formerly known as Twitter, to the extent that the company is now estimated to be spending approximately $20,000 annually on the social media platform.

However, the purpose behind this expenditure remains unclear.

Publicly traded companies like Tesla are obligated to disclose any “related transaction” that might involve a conflict of interest between their executives or board members and other companies they have stakes in.

In the past, Tesla has disclosed its interactions with SpaceX, such as the shared use of Elon Musk’s private plane or SpaceX’s procurement of Tesla parts.

Now, Tesla finds itself in a position where it may need to disclose and potentially justify its increasing financial commitment to X (formerly Twitter), a platform owned by its CEO, Elon Musk.

X has been grappling with profitability challenges in the realm of advertising, prompting a shift toward subscription services. Twitter Blue, now rebranded as X Premium, offers a $8 per month subscription service, providing users with verification, a blue badge, and increased visibility.

In addition to X Premium, X is also promoting a subscription for businesses called “Verified Organizations,” offering similar features. However, this service comes at a significantly higher cost. X charges $1,000 per month for the primary account and an additional $50 per month for each “affiliated account.”

Tesla subscripition

Tesla has subscribed to this service, and it has been identified that there are 13 accounts affiliated with Tesla’s verified org account. This means that Tesla is spending $1,650 per month, or approximately $20,000 per year, to maintain its presence on X.

The situation raises eyebrows due to Tesla’s apparent creation of multiple new accounts, each incurring an extra $50 monthly fee, since Elon Musk assumed control of Twitter and introduced this subscription service. For instance, Tesla introduced a “Tesla North America” account last month, “Tesla Europe” in January, “Tesla AI” in May, “Tesla Megapack” in January, and “Tesla Optimus” also in January.

This approach is unique to X, as Tesla maintains only a single official account on other popular social media platforms like Instagram and YouTube.

For example, the “Tesla Optimus” account, created in January, has posted only a single tweet to date. Tesla has been paying $50 per month for this account, despite its minimal activity.

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Money

Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

#featured

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The secret aspect of exercise and trauma release

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Recent studies have shed new light on the profound impact sedentary behavior is having on mental health.

A meta-analysis revealed a strong correlation between increased sitting time and higher rates of depression.

Now, many experts believe that movement and exercise are not only beneficial for mental health but also play a crucial role in trauma release.

Jenni Crumpton Ross, the President and CEO of Kula for Karma joins Veronica Dudo to discuss.

#IN AMERICA TODAY #trending #mentalhealth #business #wellbeing

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Survival of the fittest: the future of hospitality demands adaptability

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Exploring the highs and lows of business with a hospitality veteran.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Nick Russian, Managing Director of Russian Entertainment. #wyld money #trending

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