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Elon Musk’s problems don’t seem to be easing up, even as Tesla (TSLA) stock gradually trends upward.
His personal fortune, largely tied to Tesla’s stock price, has taken a significant hit. In fact, Sherwood News reports that he’s lost more than $100 billion since December and that each time TSLA dips $2.43, he loses another billion dollars.
Some investors have trimmed their positions while interest in TSLA from short sellers has gradually increased. Meanwhile, Wall Street analysts have issued more measured takes as Tesla’s European sales decline and Musk’s behavior continues to spark concern.
Given how far the stock has fallen since then, it makes sense that people would lose faith in both Musk and Tesla. But as it turns out, that list includes several prominent company insiders who’ve recently opted to trim their positions.
People close to Musk are rushing to offload Tesla shares
Over the past few months, it has become increasingly clear that Tesla faces a complicated future. Musk hasn’t spent much time at any of the company’s manufacturing facilities lately, choosing to focus on his new responsibilities on Capitol Hill.
However, as Musk has doubled down on his work with the so-called Department of Government Efficiency (DOGE), consumer sentiment toward Tesla has shifted globally, as evidenced by the outrage against the company. This has led to shares falling and investors seizing the opportunity to take profits while they can.
Related: Tesla stock declines could cost Elon Musk something important
According to reports, several prominent Tesla insiders have decided to start offloading their shares, not wanting to expose themselves to further risk stemming from Musk’s leadership. One recent seller is Kimbal Musk, Elon’s brother, who offloaded 75,000 TSLA shares in February 2025, per an SEC Form 4 filing.
Kimbal is a significant shareholder and a member of Tesla’s board of directors. The younger Musk isn’t the only person with close ties to the company who opted to sell recently, though.
“Last week, longtime Musk ally James Murdoch -— the estranged son of Fox boss Rupert Murdoch and a board member since 2017 -— became the latest to do so, exercising a stock option and selling shares worth approximately $13 million, according to an SEC filing. The sale occurred on March 10, coinciding with the stock's largest single-day decline in five years.”