Elon Musk’s brother has sold off $28 million in Tesla stock after it lost its trillion dollar company status.

Kimbal Musk is the brother of the tech billionaire and is also a director at Tesla but despite his close ties to the business, Kimbal sold 75,000 shares.

This has trimmed his share of the company down to 1.46 million shares, which are worth around $514 million.

Kimbal Musk has sold a chunk of Tesla shares (Chris Saucedo/Getty Images for SXSW)

It also means that his stake in the electric vehicle firm is down by just under 5%.

Tesla stock value has plummeted in recent weeks, with sales dropping by 45% in January.

As the stock continues to drop in value, the company has officially lost its ranking as a trillion dollar company.

Many have speculated this is due to Musk’s new role in the Trump administration after he took on the job as head of the Department of Government Efficiency (DOGE).

While not technically a government department, the group is said to act as an outside advisor on federal spending.

Musk himself promised to slash trillions from the federal budget and has been at the center of controversy since his appointment.

There was public outrage when Musk and his DOGE team were granted full access to the Treasury payment system.

Fears have grown that the SpaceX CEO could have access to the confidential data of millions of Americans, including social security and Medicare benefits payments.

It looks like some people who have invested in Tesla have decided to sell up to avoid the risk of more financial loss due to plummeting stocks.

And one person shedding their stocks is none other than Kimbal.

The Musk brothers once co-founded their own software company together, Zip2, back in 1995.

It has been claimed by ex-employees that Trump’s ‘first buddy’ was known for having a temper back then.

Speaking to the BBC, former Zip2 vice president Jim Ambras said that Musk would spend the evenings ‘looking to see who was sitting at their cubes, and there weren’t many people sitting at their cubes — it was 9 pm’.

He continued: “And his face turned red, he was really angry that the entire company wasn’t there in the office at 9 o’clock at night.”

Another employee, former Zip2 systems engineer Branden Spikes, told the BBC that Musk would often work late into the night and fall asleep under his desk.

Spikes also described Musk as being an ‘unusual fellow’ and a ‘know-it-all’, adding that the tech mogul thought he knew ‘just about everything about everything’.

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%.

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.

Denholm has served as the Chair of Tesla since 2018 (Graham Denholm / Stringer / Getty)

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.

Tesla CEO Elon Musk has begun an appeal process to restore the $56,000,000,000 pay package from the electric car company that he claims was denied in a ‘legal error’.

Despite being undeniably the richest man in the world, Elon Musk continues his crusade for more money by pushing for an ‘unfathomable’ pay package from Tesla that he claims he is rightfully owed.

Awarded all the way back in 2018, this particular pay package resulted in major growth for the electric car manufacturer, as per Reuters, but was ordered to be rescinded by Chancellor Kathaleen McCormick through Delaware law proceedings.

Musk has filed an appeal after his claim to an ‘unfathomable’ Tesla pay package was denied (Saul Loeb/AFP via Getty Images)

Chancellor McCormick indicated that the staggering pay package was “unfathomable” and unfair to shareholders, as directors were ‘beholden’ to Musk as CEO, alongside accusations that Tesla withheld key information from investors before they successfully voted to approve the pay package.

Musk has now launched his own appeal to McCormick’s decision, claiming instead that multiple legal errors were made in the application of the ‘entire fairness’ legal standard.

His legal representatives argue that Chancellor McCormick incorrectly determined that the Tesla directors that approved the pay package were conflicted in their business efforts, and that her assessment of the company’s failure to disclose information was a fault.

What remains critical about this particular pay package is it’s relevance to the current stock price of Tesla, even with a rapidly falling valuation over the past few weeks despite a push of support from President Trump.

The pay package, if successfully awarded, allows Musk to purchase roughly 303 million stock options in the company at around $23 each, which is essentially 10% of the most recent $230.58 closing price on Tuesday (March 11) night, and pales in comparison to the highs of around $492.77 at the end of last year.

Having access to this pay package would significantly increase Musk’s net worth and control over Tesla, despite stock value drops (Andrew Harnik/Getty Images)

Musk’s purchase price if awarded these stocks would be around $6,969,000,000 – which is around just 2.2% of his total current net worth – but if he sold it at that $230.58 closing price he’d earn himself $69,865,740,000, which would boost his net worth by 20%.

Conversely, Musk will likely feel as if he’s lost significant value due to the fact that Tesla is significantly lower than it’s all-time high on the stock market, and if he had indeed held this pay packet at the $492.77 evaluation then his net worth would have almost doubled, increasing by $149,309,310,000.

This is quite a different approach compared to key rival Sam Altman, who currently holds no stock options for OpenAI and only receives a $76,000 yearly wage from the company, and in addition Musk has threatened to move his efforts elsewhere and procure development outside of Tesla if he cannot increase his stake in the company.

Elon Musk has once again spoken out against skits involving his White House antics on late night TV, as a Daily Show ‘Tesla Auto Mall’ video has drawn a ‘brutal’ response from the car company’s CEO on X.

You begin to lose count of the people that Elon Musk has clashed with on X in the past few months alone, as he’s had fiery spats with everyone from horror icon Stephen King to Mike Myers and SNL.

He’s certainly giving these detractors plenty of ammunition to play with due to his new high profile role in American politics at the right hand of US President Donald Trump, and it’s once again not taken much to strike the nerve of the richest man in the world.

Following a bizarre publicity stunt that saw President Trump promoting Tesla outside of the White House alongside it’s CEO and ‘founder’ Musk, Jon Stewart’s The Daily Show decided to produce a satirical advert depicting the White House as an ‘auto mall’.

It’ll instantly make you recall trashy adverts for dodgy used car dealerships, with Trump’s breakdown of the electric vehicle’s qualities at the heart of it all.

“So don’t waste your time going to those other Tesla dealerships with riots and flaming Cybertrucks, you’ve gotta come down to White House Tesla Auto Mall,” the skit ends.

Naturally it caught the attention of Musk after being posted to his own social media platform, to which he offered his own five word response:

“Thanks for helping sell Teslas!! [laughing emoji]” Musk joked, but if recent reports of a sales decline and significant stock market losses are anything to consider, he might well need all the help he can get.

He’s certainly getting that from the President though, as The Daily Show’s sketch – like Myers’ portrayal of Musk – isn’t too far from the truth.

Trump’s appearance alongside a MAGA-esque red Tesla was nothing short of an advertisement, as he claimed that he’s buying a ‘brand new Tesla’ despite the fact that he’s not actually allowed to drive one himself.

On top of this, President Trump indicated that anyone who ‘messes with’ Tesla will be put ‘through hell’ after outlining that people targeting Tesla dealerships will be treated as ‘domestic terrorists’.

Musk and Trump were promoting Tesla on the White House lawn (Andrew Harnik/Getty Images)

You don’t need to look back too far to see a wildly different stance from Trump on the rise of electric vehicles, as resurfaced comments show that he believed they were ‘destroying our once great USA’ and should ‘rot in hell’.

Close affiliation with Musk appears to have cured this distaste for EVs despite once claiming that they were “the idea of the Radical Left Fascists, Marxists, & Communists,” much like his opinion shift on Musk himself.