In a recent reveal leading up to their annual shareholder meeting, Tesla Inc. shared insights into the intricate financial interactions between Elon Musk's array of enterprises. The disclosed transactions, totaling $9.1 million, shed light on the financial ties among Musk's companies, including SpaceX, X, and The Boring Company. This disclosure is part of the company's regulatory filings, showcasing payments made between entities where Musk holds substantial positions.
Among the notable transactions highlighted in Tesla's disclosures is SpaceX's payment of $2.9 million to Tesla during 2023 and through February 2024. In a reciprocal move, Tesla paid $2.9 million to an undisclosed security company owned by Musk for his protection. Furthermore, Tesla directed $280,000 towards advertising on X, formerly known as Twitter, and made a payment of $1.2 million to The Boring Company. These financial exchanges underscore the interconnected operations of Musk's various businesses and have prompted discussions about corporate governance standards.
Despite these financial revelations, Tesla is facing challenges in maintaining investor confidence, especially given the significant drop in their stock price this year. As the company gears up for its first-quarter earnings announcement, there is a growing skepticism among investors, with concerns raised about a proposed $45 billion stock option package for Musk amidst a steep decline in Tesla's valuation. This uncertainty is accentuated by reports of Tesla's largest retail investor expressing discontent and aligning with others in raising governance-related apprehensions, questioning the company's public corporation status under Musk's leadership.