10 Major Tesla Shareholders: Who Owns TSLA Stock in 2024?

Tesla (TSLA) pioneered the mainstream adoption of electric vehicles (EVs), and its success in sleek, modern-looking plug-in electric vehicles is propelling EVs from niche to usual amid the global energy transition rush.

Tesla, named after American-Serbian inventor and electrical engineer Nikolai Tesla, is inextricably linked to Elon Musk, its CEO and largest shareholder. The mercurial and eccentric entrepreneur, who also has ownership in multiple tech companies, wields considerable power within the company.

The company is still the world’s largest EV maker, despite its market capitalization having more than halved to $565 billion as of May 2024, from the peak of $1.23 trillion on 6 November 2021.

As a publicly traded company, it also has other investors who own a large number of TSLA shares, apart from Elon Musk.

So, who owns the most Tesla stock? In this article, we compiled Tesla’s individual shareholders list and explored the institutional investors with the largest Tesla ownership.

Table of Contents Table of Contents

1. Key Takeaways
2. Tesla Shareholders Analysis
3. Tesla Largest Shareholders: Who Owns the Most Tesla Stock?
4. The Bottom Line
5. FAQ
6. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. Tesla Shareholders Analysis
3. Tesla Largest Shareholders: Who Owns the Most Tesla Stock?
Show Full Guide
4. The Bottom Line
5. FAQ
6. References

Tesla Shareholders Analysis

The Silicon Valley-based car manufacturer has various investors, including individual, retail, and institutional shareholders.

As of June 2024, Tesla had 3.1 billion outstanding shares, based on Nasdaq’s data.

The largest Tesla shareholders include Elon Musk and some prominent investment management firms such as Vanguard Group, BlackRock, State Street Corp, and Geode Capital Management.

Tesla Largest Shareholders: Who Owns the Most Tesla Stock?

Below, we look into details about who owns the most Tesla stock among individual and institutional shareholders.

Top 5 Tesla Individual Shareholders

1. Elon Musk

How many shares of Tesla does Elon Musk own? According to Tesla’s 2022 Annual Report, Tesla’s CEO and founder, Elon Musk, owns 715.022 million shares, accounting for 20.6% of the 3.169 billion outstanding shares as of the end of March 2023, unchanged from the end of December 2022. That makes Musk Tesla’s biggest shareholder.

Filings to the SEC from February 2024 say that Musk is still in possession of 715m shares, including options, and Musk has repeatedly stated he aims to hold 25% of the company over time.

Musk has served on Tesla’s board since April 2004 and as CEO since October 2008. The eccentric entrepreneur and tech genius also owns various tech companies, including rocket and spacecraft manufacturer Space Exploration Technologies Corporation, or SpaceX, and social media platform X, formerly known as Twitter. He bought Twitter in October 2022 for $44 billion.

Before setting up SpaceX, Musk co-founded the electronic payment system Paypal, which was acquired by eBay in October 2022.

However, who owns Tesla stock besides Musk?

2. Zachary Kirkhorn

According to Tesla’s 2022 Annual Report, Zachary J. Kirkhorn was the second largest individual shareholder of Tesla with 2.68 million shares, owning 0.08% of the stock.

However, Kirkhorn unexpectedly stepped down as Tesla’s Chief Financial Officer (CFO) in August 2023. Tesla and Kirkhorn have not explained his exit. Since Kirkhorn’s resignation, there have been no new disclosures about his ownership.

3. Kimbal Musk

Based on an SEC filing, Elon’s younger brother owns 1.7 million shares of Tesla as of 2 April 2023, dropping from 2.05 million shares at the end of March 2023, as stated in the TSLA 2022 Annual Report. While he’s one of Tesla’s major shareholders, his holding only accounts for 0.05% of the company’s outstanding shares.

For over twenty years, Kimbal has co-founded technology, hospitality, entertainment, and agricultural businesses. His passion, however, is in the culinary industry, where he owns a group of restaurants, including the farm-to-table restaurant The Kitchen, which he founded in 2004.

From 2013 to 2019, he served as the director of Chipotle Mexican Grill. He is also the founder of the urban farming companies Square Roots and BigGreen.

In addition to his food business, Kimbal is still involved in Elon’s tech businesses. He serves as a director at Tesla and, through January 2022, SpaceX. He is also the co-founder and CEO of the drone technology firm Nova Sky Stories.

4. Ira Ehrenpreis

Tesla’s independent director held 1.68 million shares, accounting for 0.05% of the electric car maker’s outstanding shares as of the end of March, according to its 2022 Annual Report.

Ehrenpreis is the founder and managing partner of venture capital firm DBL Partners which invests in clean energy, healthcare, information technology, and sustainable products and services.

5. Robyn Denholm

The Australian executive owns 1.67 million of Tesla’s shares. Denholm, who has been Tesla’s independent director since 2014, has worked for tech and auto companies in Australia, including Telstra Corporation Limited and Toyota Motor Australia.

Top 5 Largest Institutional Shareholders

1. The Vanguard Group

The world’s second-largest asset management company owned 225.94 million shares of Tesla, accounting for nearly 7% of Tesla’s stock as of September 30, 2023, according to Nasdaq. It was up from 217.85 million as of 31 March 2023.

Unlike other asset management firms, the Pennsylvania-based company is not owned by shareholders. Instead, investors who put their money in the company’s fund, own it. As of May 2024, Vanguard had $7.2 trillion of assets under management (AUM), according to Advratings.

2. Blackrock

As of the end of September 2023, Blackrock held 186.65 million shares in Tesla, making up 5.8% of Tesla’s outstanding shares.

The New York-based company is the world’s largest asset management firm, managing $9.1 trillion in assets under its belt, according to Advratings. It has a market capitalization of $113 billion as of May 2024.

3. State Street Corp

The Massachusetts-based company (NYSE: STT) is one of the world’s leading asset managers, with $3.7 trillion in assets under management (AUM) and $40 trillion in assets under custody as of 30 September 2023.

As of September 30, 2023, State Street Corporation owned 104.86 million of Tesla’s shares valued at $19.21 billion, making it Tesla’s third-largest institutional shareholder, according to Nasdaq’s data. State Street Corp. holds 3.3% of Tesla’s outstanding stock.

4. Geode Capital Management

Geode Capital Management is Tesla’s fourth-largest institutional shareholder, with 53.87 million shares valued at $9.87 billion, accounting for 1.7% of Tesla’s outstanding shares.

Founded in 2001, the Massachusetts-based asset management firm has $1.1 trillion in AUM as of May 2024.

5. Capital World Investors

The privately held firm is one of the world’s oldest investment managers, dating back to the 1930s during the Great Depression. According to Advratings, the US firm ranks tenth among the world’s largest asset management companies with $2.2 trillion in AUM as of May 2024.

Capital World Investors owns 41.1 million shares of the electric car maker, valued at $7.53 billion. Its holdings account for 1.29% of Tesla’s outstanding stock.

The Bottom Line

Elon Musk is Tesla’s largest shareholder, owning around 20.5% of the company’s total outstanding stock in May 2024. Consequently, his share ownership is far larger than that of other individual and institutional shareholders.

On the contrary, Vanguard and BlackRock, Tesla’s two largest institutional shareholders, own 7% and 5.8% of the shares, respectively, while individual individuals own less than 1%.

With an overwhelmingly large holding, Elon will continue significantly influencing Tesla’s future business and growth.

FAQ