Tesla has allocated $200,000 for advertising on Elon Musk’s social media platform, X.Â
The decision follows shareholder pressure and signals a shift towards more traditional marketing avenues.
Since the announcement, Tesla ads have appeared on platforms like Google and YouTube, indicating a strategic investment in online visibility.
The annual proxy statement released by Tesla sheds light on the financial transactions between Tesla and Elon Musk’s other ventures.
Apart from advertising expenses, Tesla has engaged in various agreements with X, including commercial, consulting, and support agreements, totaling $80,000 through February 2024.
Similarly, SpaceX, another venture of Musk, has conducted transactions with Tesla, highlighting the interconnected nature of Musk’s business empire.
The proxy statement also unveils Tesla’s considerations regarding its corporate structure.
Following a recent court decision regarding Musk’s stock compensation plan, Tesla’s board has initiated discussions on potentially relocating the company’s state of incorporation to Texas.
This move reflects the board’s commitment to independent decision-making and transparency amidst ongoing legal proceedings.
