Tesla insiders have been unloading their shares at an impressive rate. Excluding CEO Elon Musk, Tesla executives and board members have sold more than 50% of their TSLA shares over the last year.
And that might only be part of the story.
Public companies are required to report insider trading by key executives and board members.
In recent years, Tesla’s number of key executives has dwindled to now only three:
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Elon Musk
Tom Zhu
Vaibhav Taneja
Here’s Tesla’s corporate governance page on its investor relations website:
That’s partly due to several of them leaving in the last year, including Drew Baglino, who was the de facto head of engineering and was listed as a key executive before leaving last year.
It’s also because Musk is known to micro-manage, resulting in him having many direct reports who would generally go through other department heads.
The result is that only two Tesla executives, in addition to Musk, who would have to report his transactions even if he weren’t CEO, since he owns more than 10% of the company, are required to report their stock transactions.
Based on Tesla’s 2024 proxy statement, here were the insider ownership last year:
TSLA Insider Ownership
Total
Shares
Options
Elon Musk
715,022,706
303,960,630
411,062,076
Vaibhav Taneja
1,063,544
105,032
958,512
Andrew Baglino
1,218,669
31,230
1,187,439
Tom Zhu
1,996,983
63,171
1,933,812
Robyn Denholm
1,490,069
15,000
1,475,069
Ira Ehrenpreis
1,681,005
1,571,005
110,000
Joe Gebbia
111
111
0
James Murdoch
1,427,295
157,275
1,270,020
Kimbal Musk
1,950,470
1,608,720
341,750
Kathleen Wilson‑Thompson
771,255
5,400
765,855
TOTAL
726,622,107
307,517,574
419,104,533
TOTAL Excl. Elon Musk
11,599,401
3,556,944
8,042,457
Now here’s the ownership of Tesla shares and options from insiders based on the 2025 proxy statement:
Name
Total
Shares
Options
As‑of (filing)
Elon Musk
714,754,706
410,794,076
303,960,630
12/31/2024 (10‑K/A filed 4/30/2025)
Vaibhav Taneja
830,844
116,924
713,920
7/8/2025
Andrew Baglino
520,005
31,230
488,775
4/1/2024 (latest)
Tom Zhu
348,250
67,600
280,650
6/12/2025
Robyn Denholm
85,000
85,000
0
5/6/2025
Ira Ehrenpreis
855,394
855,394
0
5/27/2025
Joe Gebbia
4,111
4,111
0
4/24/2025
James Murdoch
1,282,519
884,306
398,213
3/10/2025
Kimbal Musk
1,463,220
1,463,220
0
5/27/2025
Kathleen Wilson‑Thompson
5,400
5,400
0
5/1/2025 (options canceled)
TOTAL (sum of listed rows)
720,149,449
414,307,261
305,842,188
TOTAL excl. Elon Musk
5,394,743
3,513,185
1,881,558
As you can see, excluding Musk, Tesla insiders sold more than half their shares in the company over the last year.
However, it doesn’t account for the reduction in ownership of more than 6 million shares and stock options, worth approximately $2 billion at today’s share price.
There are also some specific examples of non-board members liquidating their stakes.
Tom Zhu, who has led Tesla’s manufacturing efforts and was at times seen as Musk’s number 2 at Tesla, reduced his stake by 82% in a single year.
This happened while Musk claimed that Tesla will become the most valuable company in the world and roughly 10x its current stock price due to autonomous driving and robots, a claim most unbiased analysts have been highly skeptical about.
Electrek’s Take
More than 50% reduction in ownership in a single year is wild.
But as I hinted at the beginning of the article, this is only what we can see. Other Tesla execs, managers, and employees also have shares and stock options, and they could potentially be selling at an even higher rate. We simply don’t know.
The single reporting person to have bought shares is Joe Gebbia, who only bought about $1 million worth, and he is a multi-billionaire. It would be the equivalent of me buying a few hundred dollars’ worth of Electrek shares – not a great show of confidence in my company.
I’m not in the business of predicting Tesla’s share price. I think it trades mainly on gullible Tesla retail shareholders believing Musk’s lies.
But I believe that Tesla will likely face several challenging quarters in the next few years and may even start incurring losses. I think many executives also see this coming and don’t believe that autonomy and humanoid robots will have a positive financial contribution for a few years, as Musk claims.
Meanwhile, Tesla’s EV business is struggling, and there’s little hope of reversing the trend without fresh new models and innovation – the pace of which appears to have greatly slowed at Tesla, unfortunately.
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Autonomous taxi company Waymo faced scrutiny last month when a car was caught on video illegally passing a stopped school bus that was letting children off in Atlanta. Now, the National Highway Traffic Safety Administration (NHTSA) is looking into it.
Georgia State Representative Clint Crowe seemed stunned after being presented with video of a Waymo driverless car illegally passing a stopped school bus on Briarcliff Road in Atlanta last month. “I’m a big fan of new technologies and emerging technologies and I think that driverless cars are going to become more prevalent,” he told local NBC news affiliate WBIR. “But we got [sic] to think about how they’re going to comply with the law.”
WBIR | Waymo illegally passes school bus
Crowe co-sponsored Addy’s Law in 2024. The legislation was named after 8-year-old Addy Pierce, who was killed in Henry County after being struck while crossing the street to get to her bus. The law stiffened penalties for illegally passing a stopped school bus, carrying penalties of up to $1,000 in fines and even jail time.
According to Crowe, those rules still apply to autonomous vehicles. “The majority of our traffic laws, the penalty is usually a fine and or driver’s license suspension. These cars don’t have a driver, so they don’t have a driver’s license and so we’re really going to have to rethink who’s the responsible party, who’s going to be responsible for being in control of that vehicle and who’s going to be the operator of that vehicle,” he said.
Crowe believes manufacturers should face stronger consequences when their vehicles break the law, saying the $1,000 fine doesn’t go far enough.
Now, thanks to pressure from social media and politicians like Crowe and Geoirgia State Senator Rick Williams, who helped co-author Addy’s Law, it seems like NHTSA is getting involved.
Prompted by media reports, the US Department of Transportation issued an investigation regarding Waymo’s AV, which states that, “the AV initially stopped, but then drove around the front of the bus by briefly turning right to avoid running into the bus’s right front end, then turning left to pass in front of the bus, and then turning further left and driving down the roadway past the entire left side of the bus. During this maneuver, the Waymo AV passed the bus’s extended crossing control arm near disembarking students (on the bus’s right side) and passed the extended stop arm on the bus’s left side.”
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While it remains to be seen how much work NHTSA is actually doing amid the ongoing shutdown of the Federal government, it’s worth noting that, regardless of the outcome, Senator Williams said he plans to introduce new legislation that would hold driverless car companies accountable with higher fines if their vehicles violate traffic laws. If that passes in Georgia, it could set the stage for politicians across the US and even abroad to use similar fins to halt the spread of autonomous taxis in their states.
We’re typically pretty tech- and autonomous-forward here, but as a parent I would absolutely lose my s*** if a Waymo or Robotaxi or whatever else ran over my kid. but I’ve also seen plenty of human drivers blow past a school bus with a knee on the steering wheel and both eyes glued firmly to their phones. Let us know who you’d be more ready to trust with your kids’ lives in the comments.
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Nobody ever says “this is business” before doing something nice, and the recently reborn Lion Electric company is keeping that streak alive by doing the unthinkable to cut costs: they’re going to void the warranties on hundreds of electric school buses.
This past summer, the fallout from Lion Electric’s dissolution reached a critical mass, and the company’s new owners — the Quebec-based real estate giants Groupe MACH — decided to cancel the warranties on electric school buses sold in the US, leaving many districts with unsafe or broken down buses and no recourse to get their money back while the brand continued to take orders and make money in Canada.
Now, it seems like even the Canadian fleets have some serious safety concerns. School Transportation News and the CBC report that The Quebec Ministry of Education has ordered Lion school bus models be taken out of service immediately after a pair of LionC electric buses caught fire in Montreal, Quebec on Sept 9th, leading to disruptions across the province and a renewed scrutiny of Lion bus safety (Lion360 diesel-powered school buses, which Lion manufactured prior to only producing electric vehicles in 2017, were also affected by the issue).
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Lion Bus (the company’s new, official name), has issued an inspection bulletin detailing a four-hour repair, which reads, “We have identified some potential anomalies in a sub-component of the HVAC system that Lion obtains from a third-party supplier … in the interest of safety above all else, we request that Lion bus operators perform the following inspections and modifications: mandatory inspection of several low-voltage electrical connections, replacement of certain electrical connectors, replace fan fuses with less powerful ones, adding a fuse to an HVAC control panel circuit. This inspection and modification procedure must be carried out on all Lion360 (diesel) and LionC 3rd generation and earlier buses (Gen3, Gen2 and Gen1).”
No word yet on whether the issue impacts any of the few Lion Electric buses still on US roads, but remember: Lion Bus wouldn’t help you if it did.
You can read about Lion’s decision to leave US school districts holding the bag on its troubled products in the original July post, below, then let us know how you feel about Groupe MACH’s handling of the situation in the comments section at the bottom of the page.
The warranty story
LionC Electric bus; via Lion Bus.
In a letter issued to exiting Lion Electric customers last week, Deloitte Restructuring announced that the warranties on all Lion vehicles purchased outside of the company’s home Province of Quebec are null and void – leaving dozens of school districts in the lurch with stranded assets that won’t get fixed, and can’t be sold to generate funds for replacements.
“We are working with alternate vendors at the expense of the school district to help keep our electric buses functional and on the road,” explains Dr. Richard Decman, Superintendent of Herscher CUSD No. 2 district in Herscher, Illinois. “Currently, six of our 25 (Lion) electric buses need some type of repair.”
Student Transportation News reports that Lion buses represent fully half of Herscher’s overall fleet of 50 buses, and that the district has received nearly $10 million for the purchase of 25 electric buses and the related charging stations from various state and utility incentive programs.
Herscher isn’t the only district having problems with Lion buses. “All four Lion buses that we own are currently parked and not being used,” Coleen Souza, interim transportation director of Winthrop Public Schools, told Clean Trucking. “Two of them are in need of repairs which would cost us money which we are not willing to invest in because the buses do not run for more than a month before needing more repairs.”
More of the same in Maine, where Yarmouth School Department bought two Lion Electric buses in 2023 with the state covering the costs. According to Superintendent Andrew Dolloff, the buses almost never worked. “We’ve had some sporadic service over the past two years, but as soon as the tech leaves, the buses produce error codes again,” explained Dolloff. ” and “Then the technician quits or is released, and we wait a few months for the next response.”
Dolloff added that Yarmouth’s electric buses did not operate during the 2024-25 school year.
Lion’s new owners are seemingly uninterested in their customers’ plight – which might be easily dismissed if those new owners, Groupe MACH, weren’t also the old owners of Lion Electric.
That’s right, kids. Quebec-based real estate company Groupe MACH, which stepped in to “save” Lion Electric earlier this summer, along with Ontario-based Mirella & Lino Saputo Foundation, bought $90 million of equity in Lion Electric back in 2023. And, while the MACH people may not have been the ones who ultimately made the call about voiding the warranties (that decision was made by the Deloitte bankruptcy team), it is absolutely Group MACH who have, to date, not announced plans to continue to honor those warranties, either.
Make of that what you will.
Deloitte Lion letter
SOURCES: School Transportation News, Clean Trucking, Deloitte.
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The first-ever Liebherr MK 120-5.1E electric crane in customer hands has rolled into the narrow, historic streets of Bern’s old town at 20 meters tall with a 45 meter reach and (of course) zero emissions, no vibrations, and almost no noise.
Deployed by Swiss construction firm Zaugg AG Rohrbach, the new Liebherr electric mobile crane is working hard placing temporary roofs above operational construction sites. It’s precise work, since the narrow streets of Bern’s historic old town weren’t even built for cars — much less massive, five-axle construction machinery. The prices controls and smooth operation of the electric drive mean the MK120-5.1E’s operators could confidently navigate the narrow streets without causing damage and creating new, unpaid jobs for themselves.
“The all-wheel steering allows us to manoeuvre easily in the narrow alleyways,” explained Stefan Stettler, head of the crane department at Zaugg AG Rohrbach. In reverse gear, the crane worked its way along the historic Rathausgasse to its construction site, past the arcades typical of the old town.
“The low-noise and emission-free crane work is naturally pleasant for (Bern’s) residents, tourists and passers-by,” explained Stettler. “Especially as we only extended the crane support on the side facing away from the construction site by 50 per cent, allowing pedestrians and cyclists to pass through at all times.”
The MK120-5.1E electric mobile crane offers 8,000 kg (~17,650 lbs.) of lifting capacity, and all of the crane’s drives and winches are powered by electric motors, eliminating both the need to “warm up” or service oil-based hydraulics. It can be had with either a 98 kWh on-board battery (shown) or a 544 hp Liebherr diesel genset.
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