Overview

• Robyn Denholm, Tesla's board chair, has sold $198 million in stock over the past six months, bringing her total profit from stock sales since 2018 to over $530 million.
• The sales were executed under a prearranged trading plan adopted in July 2024, shortly after Elon Musk's endorsement of Donald Trump for president, which sparked consumer backlash.
• Tesla's first-quarter 2025 profit fell to its lowest level in four years, with declining car sales partially linked to Musk's political activities alienating some buyers.
• Denholm's stock sales have raised questions about her confidence in Tesla's future and the independence of the board, which has faced criticism for its oversight of Musk's leadership.
• Denholm retains a significant stake in Tesla, holding 85,000 shares and 49,000 stock options, but her profit from stock sales far exceeds that of her peers at other top U.S. companies.