Tesla board chairwoman Robyn Denholm has sold another massive chunk of stock as the company’s shares get rocked by Elon Musk’s controversial ties with the Trump administration, regulatory filings revealed this week.
Denholm, 61, sold 112,390 shares of Tesla worth more than $32 million, according to an SEC filing on Tuesday. Since December, Denholm has sold more than $150 million in stock, according to the electric car news blog Electrek.
After the latest sales, Denholm owns about 85,000 shares and has 300,440 stock options that are set to expire at the end of the year. Denholm’s term as board chair is up for another vote next year, according to Reuters.
The share sales of sparked speculation about Denholm’s future at Tesla. Electrek speculated that Denholm “appears to be completely liquidating her stake.”
However, Tesla bull and investor Larry Goldberg pushed back. He asserted in an X post that the report was “misleading” and that Denholm is likely exercising share options that are set to expire while selling a portion to cover associated taxes.
Tesla did not immediately return The Post’s request for comment.
Denholm first joined Tesla’s board 2014 and became chairwoman in 2018 after regulators forced Elon Musk to step down from the role.
Since joining the board, she has received more than $680 million in cash and stock – ranking as the highest-paid chair of any US public company, according to a Reuters analysis last March.
Last year, Denholm and other members of Tesla’s board faced criticism from a Delaware judge who said the pay package they approved for Musk was too excessive. The judge’s decision to reject Musk’s pay package led the billionaire to move Tesla’s state of incorporation to Texas.
Meanwhile, Tesla is in the midst of a rough patch – driven in part by Musk’s controversial work with President Trump and the Department of Government Efficiency.
The company’s vehicle deliveries plunged 13% in the first quarter, while net income dropped by a whopping 71% as Tesla dealerships around the country faced a wave of arson and vandalism attacks.
Last week, Musk told analysts that he planned to spend more time running Tesla now that the “major work” of setting up DOGE was done. However, he said he would continue to advise the Trump administration as needed.
Tesla shares have plunged in value by more than 25% since the start of the year.
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