Tesla, Inc. (TSLA), formerly known as Tesla Motors, has grown since its IPO in 2010 into one of the world's biggest producers of electric vehicles under the leadership of CEO Elon Musk. The company sells cars, SUVs, and trucks. In addition to electric vehicles, Tesla has expanded into energy generation and storage systems.
Tesla stock joined the S&P 500 and S&P 100 on Dec. 21, 2020, and the company reached a $1 trillion market capitalization the following year. As of Feb. 23, 2024, Tesla had a trailing twelve-month revenue of $96 billion and net profits of $15 billion. The market capitalization was $611 billion. Below, we'll take a look at the top shareholders of Tesla based on the number of shares owned as of Feb. 23, 2024.
Key Takeaways
- Tesla is the world's most valuable auto manufacturer, with a market capitalization of $611 billion.
- CEO Elon Musk is by far the largest shareholder, with over 20% of the company's equity.
- Besides Musk, the largest shareholders are asset management companies like BlackRock, Vanguard, and State Street.
Top 3 Individual Insider Shareholders
The largest individual investors are company shareholders, like executives and directors. The following accounts only for direct ownership of shares, not
Elon Musk
Tesla CEO Elon Musk is the largest shareholder in Tesla. With 715 million shares, Musk holds nearly 23% of all Tesla shares, according to a 13G filing for the period ending Dec. 31, 2023. Musk owns more than three times as many Tesla shares as the next largest shareholder. In addition to serving as co-founder and CEO of Tesla beginning in 2003, Elon Musk also is CEO of SpaceX, Neuralink, and The Boring Company. He was also co-founder of PayPal Holdings, Inc. (PYPL). According to Forbes, Musk is currently the second-richest person in the world, with a net worth of about $205 billion.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
Kimbal Musk
Kimbal Musk, the younger brother of Elon Musk, owns a total of 1.6 million Tesla shares, accounting for less than 1% of the total as of April 2023. Musk holds a seat on Tesla's Board of Directors. He is a restaurateur, entrepreneur, and co-founder of the food access company The Kitchen. He also serves on the boards of Chipotle Mexican Grill, Inc. (CMG) and SpaceX, the aerospace manufacturer and space exploration company whose CEO and founder is Elon Musk.
Jeffrey Straubel
Jeffrey Straubel holds 276,000 shares of Tesla, worth about $55 million and accounting for less than 0.01% of the total. He was Tesla's former Chief Technological Officer, before he moved to an advisory role in 2019. He is also the CEO of Redwood Materials, which he founded in 2017, and has served on the boards of SolarCity and QuantumScape.
Top 3 Institutional Shareholders
Institutional investorshold a substantial portion of Tesla shares, totaling about 41.87% of total shares outstanding.
Vanguard Group
Vanguard Group holds nearly 230 million shares of Tesla stock, according to filings on Dec. 30, 2023. This accounts for about 7.2% of all outstanding shares. Altogether, Vanguard's investments are worth nearly $46 billion. As one of the world's largest asset managers, most of these shares are held on behalf of clients, who invest in Vanguard's various mutual funds and exchange-traded funds.
The largest share of these are held in the Vanguard Total Stock Market Index Fund, which represents a cross-section of the market as a whole. Altogether, Vanguard Group has about $7.6 trillion in assets under management.
BlackRock Inc.
BlackRock, the world's largest asset manager, holds 188 million shares of Tesla stock as of December 30, 2023. BlackRock's portfolio accounts for 5.9% of all Tesla shares. Like Vanguard, Blackrock does not directly own these shares—they are held on behalf of thousands of customers who invest in BlackRock's ETFs and mutual funds. The largest share is held in the portfolio of the iShares Core S&P 500 ETF, a passively managed fund that tracks the performance of the S&P 500 index. Altogether, BlackRock's portfolios hold a combined $9.4 trillion in assets under management.
State Street Corporation
State Street holds the third-largest institutional share of Tesla stock. As of Dec. 30, 2023, State Street held 108 million shares of Tesla, accounting for 3.4% of the total. Altogether, State Street holds $3.7 trillion in assets under management, and its largest portfolio is the SPDR S&P 500 ETF Trust.
How Much Is Elon Musk Worth?
Elon Musk has a net worth of $204 billion as of Feb. 25, 2024, making him the second richest person in the world after Bernard Arnault. Most of that wealth is tied up in Tesla and SpaceX equity.
How Much Is Tesla Worth?
Tesla closed at $191 per share on Feb. 23, 2024, giving the stock a market capitalization of $611 billion.
How Much Is SpaceX Worth?
Because SpaceX is not traded on public markets, it is difficult to assign an objective value to the company. A private sale in December 2023 valued the company at $175 billion, making it the most valuable pre-IPO company in history.
The Bottom Line
Tesla is a leading auto manufacturer and one of the most valuable companies in the world. As of 2024, the largest shareholder is CEO Elon Musk, who holds about a fifth of Tesla equity. Besides Musk, the largest shareholders are asset managers, like BlackRock and Vanguard.
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