"Tesla, a company long known for avoiding traditional advertising, is now paying for ads on Elon Musk's own social media platform, X. The goal? To persuade shareholders to approve Musk's proposed compensation package, a deal worth up to $1 trillion in stock options, according to Electrek. Tesla has begun running ads on Google, Instagram, Facebook, Reddit, and even Musk's privately owned X."
"Musk has previously insisted that he "hates advertising," according to the article, and that Tesla would succeed by focusing on its product, rather than on marketing. But since acquiring X, Musk has seemingly reversed course, leaning into advertising to sway public opinion. Critics argue that using company funds to buy ads on Musk's privately held platform blurs ethical lines. Shareholders are essentially paying for a campaign that benefits Musk directly, sparking backlash in the article's comment section."
""So he is paying himself to advertise to others about how much more he should be paid? Go ahead and tell me how this is ethical," noted one commenter. "Has any other company had a CEO that says 'I'm not going to give my job my full attention unless you pay me more?'" asked another. "This is shockingly greedy ... For him to actually get up in the morning and go to work he needs one thousand billion dollars. Seriously. It's disgusting," another commenter wrote."
Tesla has begun purchasing ads on Google, Instagram, Facebook, Reddit, and on X to urge shareholders to vote for Elon Musk's proposed compensation package and to approve issuing more shares. Musk previously rejected advertising, saying Tesla would rely on product strength rather than marketing, but the company now deploys paid messaging to influence the shareholder vote. Critics say using corporate funds to run ads on Musk's privately held platform creates a conflict of interest because shareholders are effectively financing a campaign that benefits Musk personally. Customers and investors worry about resource allocation and leadership focus amid intensifying EV competition.
Read at The Cool Down
Unable to calculate read time
Collection
[
|
...
]