A Tesla chairwoman who has been chair of the board since 2018 has sold major stock in the company.
Some pretty big names seem to be doing some pretty big things over at Tesla. Days after Kimbal Musk sold some $28 million of stock, its chairwoman has just sold $33 million.
With continued controversy surrounding Elon Musk and his role in the government, there are calls to boycott Tesla.
The Tesla stock market has been fluctuating since the start of 2025, with Bloomberg reporting that sales have slumped in Europe. The site says that while EV sales have soared by 37% across the EU market, Tesla has dipped by 45%.
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Musk has lost over $100 billon since the start of December 2024, and while he's still the world's richest man with $354.8 billion, it's quite the drop.
To make matters worse, a March 3 filing with the Securities and Exchange Commission confirmed that Tesla chairwoman Robyn Denholm has sold $33 million worth of TSLA stock.
Denholm has been chairwoman of the board since 2018 and is one of the few people who actually has oversight over Elon Musk.
She's now sold 112,390 securities in EV brand, also selling the same amount in February 2025 for a grand total of proceeds equalling around $43.2 million.
Denholm has also exercised stock options to purchase 112,390 shares at a price of $24.73 per share, (equalling $2.78 million). After all of this, Denholm's direct ownership of Tesla shares stands at 85,000.
Investing.com notes that these sales were part of a pre-established trading plan, although Denholm's latest sales spree comes after Chief Financial Officer Vaibhav Taneja also offloaded 7,000 shares worth $2.8 million in February 2025.
Near the start of 2025, Denholm and other directors were given court approval on a settlement of up to $919 million that demanded they return compensation in order to settle a shareholder complaint. The complaint maintained that members of the board had overpaid themselves during Tesla's lucrative 2017 to 2020 period.
Denholm previously spoke during Musk's $56 million pay packet scandal and confirmed her time as chairwoman of the board has made her a cool $280 million.
Looking at the bigger picture, Tesla stocks have leaped by 38.29% in the last year but dropped dramatically by 30.75% in the past month. Given that this is just after President Donald Trump returned to office, critics are sure to be connecting the dots.
In general, there have been complaints about the closeness of Tesla board members to the world's richest man.
Still, with Elon's own brother and now the Tesla chairwoman selling million of dollars worth of shares, it's sure to send rumbles through the stock market.