Economics

657 readers

312 users here now

founded 2 years ago

102

Tesla (TSLA) accounting raises red flags as report shows $1.4 billion missing (electrek.co)

submitted 16 hours ago by MicroWave@lemmy.world to c/economics@lemmy.world

7 comments fedilink hide all child comments

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.

top 7 comments

sorted by: hot top controversial new old

[–] apfelwoiSchoppen@lemmy.world 25 points 13 hours ago* (last edited 13 hours ago)

The guy running a government office of accountability. It has never been about accountability.

[–] Shameless@lemmy.world 4 points 10 hours ago

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.

[–] WatDabney@lemmy.dbzer0.com 25 points 15 hours ago

I'd be checking X's books for the other end of those discrepancies...

[–] frustrated_phagocytosis@fedia.io 15 points 14 hours ago

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?

[–] RamblingPanda@lemmynsfw.com 17 points 15 hours ago

OK, but Wirecard was a Russian spy ops, and Elmo would never... Huh...

[–] wise_pancake@lemmy.ca 4 points 12 hours ago* (last edited 12 hours ago)

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…

[–] whaleiam@lemm.ee 9 points 15 hours ago

Wasted, abuser, fraudster.