Tesla, Inc. (TSLA), formerly known as Tesla Motors, has grown since its initial public offering in 2010 to become one of the world's largest 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 shares joined the S&P 500 and S&P 100 on December 21, 2020, and the company reached a market capitalization of $1 trillion the following year. Next, we'll take a look at the top Tesla shareholders based on the number of shares they own as of February 16, 2024.
Key takeaways
- Tesla is the largest automaker in the world, with a market capitalization of more than $1 trillion.
- CEO Elon Musk is by far the largest shareholder, holding more than 20% of the company's equity.
- In addition to Musk, the largest shareholders are asset management companies such as BlackRock, Vanguard and State Street.
The 3 main individual privileged shareholders
Elon Musk
Tesla CEO Elon Musk is Tesla's largest shareholder. With 715 million shares, Musk owns nearly 23% of all Tesla shares, according to a 13G filing for the period ending December 31, 2023. Musk owns more than three times as many Tesla shares as the next largest shareholder. In addition to being co-founder and CEO of Tesla as of 2003, Elon Musk is also CEO of SpaceX, Neuralink, and The Boring Company. He was also a 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 around $205 billion.
“Insider” refers to individuals in senior management positions and members of the board of directors, as well as individuals or entities that own more than 10% of the company's shares. In this context, it has nothing to do with insider trading.
kimbal musk
Kimbal Musk, Elon Musk's younger brother, owns a total of 1.6 million Tesla shares, representing 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 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 owns 276,000 Tesla shares, worth approximately $55 million and representing less than 0.01% of the total. He was chief technology officer at Tesla, before taking on 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.
The 3 main institutional shareholders
Institutional investors own a substantial portion of Tesla shares, amounting to around 41.87% of the total shares outstanding.
Vanguard Group
Vanguard Group owns nearly 230 million shares of Tesla, according to filings on December 30, 2023. This represents approximately 7.2% of all shares outstanding. In total, Vanguard's investments are worth almost $46 billion. As one of the world's largest asset managers, the majority of these stocks are held on behalf of clients, who invest in Vanguard's various mutual funds and exchange-traded funds.
Most of them are held in the Vanguard Total Stock Market Index Fund, which represents a representative sample of the market as a whole. In total, Vanguard Group has about $7.6 trillion in assets under management.
BlackRock Inc.
BlackRock, the world's largest asset manager, owns 188 million Tesla shares as of December 30, 2023. BlackRock's portfolio represents 5.9% of all Tesla shares. Like Vanguard, Blackrock does not directly own these shares; They are maintained on behalf of thousands of clients who invest in BlackRock ETFs and mutual funds. Most of it is held in the iShares Core S&P 500 ETF portfolio, a passively managed fund that tracks the performance of the S&P 500 index. In total, BlackRock's portfolios have a combined $9.4 trillion in assets under management.
State Street Corporation
State Street owns the third-largest institutional holding of Tesla stock. As of December 30, 2023, State Street owned 108 million Tesla shares, representing 3.4% of the total. In total, State Street has $3.7 trillion in assets under management and its largest portfolio is the SPDR S&P 500 ETF Trust.
