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Top Tesla shareholders selling off stock (www.newsweek.com)

submitted 4 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Multiple Tesla executives and board members, including James Murdoch, Robyn Denholm, Kimball Musk, and CFO Vaibhav Taneja, have sold over $100 million in company stock amid a 50% price decline since December.

Tesla's market cap has dropped $800 billion, reducing Elon Musk's net worth by approximately $100 billion.

The selloff coincides with consumer backlash against Musk's role in the Trump administration as head of DOGE.

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[–] Treczoks@lemmy.world 2 points 4 months ago

And sinking ships, yes.

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