Canoo's CEO Excessive Private Jet Spending Surpasses Company Revenue

The electric vehicle startup Canoo has spent over double its annual revenue on private jet expenses for CEO Tony Aquila in 2023, highlighting financial struggles.

• Canoo, an electric vehicle startup, spent $1.7 million on private jet reimbursements for CEO Tony Aquila in 2023, against its $886,000 revenue.
• The company's spending on Aquila's private jet has been a consistent pattern, with millions paid to Aquila Family Ventures over the past three years.
• Despite a revenue increase in 2023 from delivering 22 vehicles, Canoo's operational losses and total net losses remain substantial.
• Canoo's lavish spending on the CEO's jet is part of a broader discussion on the wealth gap and the ethical implications of such expenditures by tech billionaires.
• The company's projected revenue for 2024 is between $50 million to $100 million, raising questions about its financial sustainability amid ongoing concerns.

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