Tesla's stock continues to tumble as top board members and executives have recently sold off more than $100 million in shares, making CEO Elon Musk's SpaceX his most valuable asset.
After Tesla's stock surged to an all-time high of $1.5 trillion in December 2024, concerns about declining sales and Musk's new role as head of President Donald Trump's Department of Government Efficiency (DOGE) have led to a dramatic downturn, according to Forbes.
Tesla's stock, which lost more than 5% again on Tuesday, took its biggest hit after Trump's inauguration in January 2025, dropping 50% from its peak.
Amid Tesla's struggles, filings with the U.S. Securities and Exchange Commission (SEC) reveal that four top executives and board members—including Musk's brother, Kimbal Musk—have sold off more than $100 million in shares since February.
Some of these sales were part of predetermined plans, but others occurred at critical moments, including on March 10, when Tesla suffered its largest single-day decline in five years. Analysts suggest that while some sales may be routine, they could signal waning confidence in Tesla's immediate future.
With Tesla's stock in freefall, Musk's wealth dynamics have shifted significantly. His stake in SpaceX, now worth $147 billion, has surpassed the value of his Tesla holdings for the first time since 2019.
Originally published by IBT Times
