Shulou(Shulou.com)11/24 Report--

CTOnews.com August 23 news, Tesla keeps creating new paid accounts on Elon Musk's X (formerly Twitter), so much so that it may now have to pay about $20000 a year for the social media platform (CTOnews.com note: currently about 146,000 yuan), but strangely, doing so seems to have nothing to do with Tesla.

Public companies like Tesla must disclose any "related party transactions" that may involve executives or board members with conflicts of interest with other companies. Tesla, for example, often discloses deals with SpaceX, such as sharing Musk's plane or buying Tesla parts.

Now Tesla needs to disclose more information and may need to explain to shareholders why it started spending so much money on X. Musk's X platform has been seeking to monetize advertising, but has run into difficulties and turned to subscription services.

X previously launched an $8-a-month X Premium subscription service that "verifies" users 'identities, gives them a blue badge, and makes them easier to see. X has also launched a subscription service for businesses called Verified Organizations, which does similar things.

This service is very expensive, charging $1000 per month for X's main account and $50 for each "affiliate account." Tesla is paying for this service, and Electrek found 13 accounts linked to Tesla's verified organizational accounts. That means Tesla is paying $1650 a month, or about $20,000 a year.

The problem is that Tesla seems to have started creating new accounts for all aspects of its business after Musk took over Twitter and launched the new subscription service. Tesla, for example, launched a new Tesla North America account last month, a new Tesla Europe account in January, a new Tesla AI account in May, a new Tesla Megapack account and a new Tesla Optimus account in January.

Tesla's strategy is only available on X, and the company has only one official account on other popular social media platforms, such as Instagram and Youtube.

And Tesla Optimus has only tweeted one tweet since it was created in January, meaning Tesla pays $50 a month for the account, which is mostly unused.

Tesla also paid executives such as Franz von Holzhausen, Drew Baglino and Tom Zhu for "affiliate accounts," but they rarely used their accounts for anything other than forwarding Tesla's own official posts.

Obviously,$20,000 a year isn't much for a $750 billion company, but it's curious when that waste goes straight into X's pocket, especially since X is owned by Musk, who happens to be Tesla's CEO.

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