Vancouver Carpenter Sues RBC After Losing $415 Million Tesla Fortune

Christopher DeVocht claims negligent financial advice led to the loss of his entire wealth accumulated through Tesla stock trading.

Christopher DeVocht, a carpenter from Vancouver Island, amassed a $415 million fortune by trading Tesla stock options, starting with an $88,000 account in 2019.
DeVocht alleges that negligent advice from RBC Dominion Securities and Grant Thornton led to an extreme concentration in Tesla shares, which ultimately resulted in massive losses.
He claims the advice focused on tax minimization strategies without considering his limited financial knowledge and sophistication.
DeVocht's lawsuit seeks damages for breach of contract and negligence, asserting that better advice could have preserved a substantial portion of his wealth.
The lawsuit also mentions that RBC's recommendation to make $25.5 million in charitable donations further depleted his financial resources.