Summary
The Financial Times reported a $1.4 billion discrepancy in Tesla’s accounting, raising concerns over missing capital expenditures.
Tesla reported spending $6.3 billion on property and equipment in the second half of 2024, but asset values increased by only $4.9 billion. Experts find no clear explanation for the gap.
Additional red flags include Tesla holding $37 billion in cash while raising $6 billion in new debt and not conducting share buybacks despite $15 billion in operating cash flow.
Analysts warn of parallels to past financial scandals like Wirecard.
8 Comments
apfelwoiSchoppen@lemmy.world · 31 pts · 1y
The guy running a government office of accountability. It has never been about accountability.
WatDabney@lemmy.dbzer0.com · 28 pts · 1y
I'd be checking X's books for the other end of those discrepancies...
takeda@lemm.ee · 1 pts · 1y
Since Twitter is no longer public he has more freedom to do whatever he wants. Tesla though is still public.
RamblingPanda@lemmynsfw.com · 18 pts · 1y
OK, but Wirecard was a Russian spy ops, and Elmo would never... Huh...
frustrated_phagocytosis@fedia.io · 16 pts · 1y
Isn't this type of whoopsie accounting what got Trump et al in trouble? Overvalued assets in loan applications paired with serious asset value losses/undervaluing in tax filings? Or is it worse than that?
whaleiam@lemm.ee · 9 pts · 1y
Wasted, abuser, fraudster.
Shameless@lemmy.world · 7 pts · 1y
Like the sentiment against this company was already in the pits, $1.4b unaccounted for is terrifying if you're a shareholder. I can't believe more people aren't dumping this stock as quick as possible.
wise_pancake@lemmy.ca · 5 pts · 1y
Remember project 42 where Elon had Tesla building a house for him, and it only got noticed due to the extremely large orders of premium glass?
I’m going to guess that wasn’t the only such project…