Several top executives and board members at Tesla have sold significant portions of their stock holdings, according to filings with the U.S. Securities and Exchange Commission.
These transactions, totaling over $100 million, come amid a decline in Tesla’s stock price and growing reports of protests against the car company.
Newsweek has contacted Tesla for comment.
Josh Edelson/AP
Why It Matters
Tesla’s stock value has dropped 50 percent since December, causing the company to plummet $800 billion in its market cap and slashing roughly $100 million from Elon Musk‘s net worth.
Tesla continues to face reduced demand and backlash following Musk’s involvement in President Donald Trump‘s administration.
While Musk is leading the newly formed Department of Government Efficiency (DOGE), Tesla has tumbled, with short sellers making over $16 billion from the stock in the last three months, according to a S3 Partners analysis.
What To Know
James Murdoch, a Tesla board member since 2017 and son of media mogul Rupert Murdoch, sold shares worth approximately $13 million on March 10. This sale coincided with Tesla’s largest single-day stock decline in five years.
Robyn Denholm, Tesla’s chairwoman, has offloaded more than $75 million in shares through two transactions over the past five weeks. These sales were part of a predetermined plan established in July 2024.
Kimball Musk, Elon Musk’s brother and fellow board member, has sold 75,000 shares valued at around $27 million.
Meanwhile, Vaibhav Taneja, Tesla’s chief financial officer, sold over $5 million in shares in the last few weeks of March.
What People Are Saying
Kevin Thompson, finance expert and founder of 9i Capital Group, told Newsweek: “Tesla has been taking a hit in the U.S., partly due to Elon’s involvement with the Trump administration, which isn’t sitting well with the company’s largely liberal customer base. Expect continued declines in the American market as some consumers move away from the brand. That said, China remains a key market that could help offset weaker U.S. demand. But the real game-changer? If Elon lands a government contract to license autonomous vehicle technology, that could be a massive win for Tesla’s long-term future.”
Michael Ryan, finance expert and founder of MichaelRyanMoney.com, told Newsweek regarding Kimball Musk’s sale: “It isn’t necessarily a red flag for the company’s future, but more a reflection of smart portfolio management. I’ve seen this countless times with executives who maintain significant company stakes but need to diversify their risk exposure.”
Alex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: “When it comes to large-scale stock owners, it’s always difficult to say the exact reason for selling. It could be based on projections for future performance, or it could be for personal reasons, like a major purchase or for tax purposes. Regardless, a sale of this size garnering headlines certainly does Tesla no favors, as the stock continues to descend from the incredible highs it reached following last year’s election.”
President Trump said last week that he would label violence against Tesla as domestic terrorism. “I will do that. I’m going to stop them. Because they are harming a great American company. It’s a great product, and we have to celebrate [Musk],” he said.
What Happens Next
Trump’s steep tariffs on countries such as Mexico and Canada mean that Tesla’s stock is likely to continue declining, amid ongoing volatility in the U.S. stock market.
Musk has said that he will continue in both his roles as head of DOGE and the CEO of Tesla.
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