Tesla: main independent shareholder sells shares and generates $ 17 billion in profits

Posted on Sep 3, 2020 at 10:24 AM

Faced with the surge in Tesla shares since the start of the year, its main independent shareholder has sold shares to limit the exposure of its clients to a single company. Scottish investment fund manager Baillie Gifford now owns less than 5% of the electric car company. The sale of its shares allowed it to generate a record profit of 17 billion dollars, according to the "Financial Times".

His group, which manages $ 262 billion in funds for some 200 customers, now owns $ 19.7 billion in Tesla shares. This represents 4.25% of the shareholding of the company created by Elon Musk. “We remain very optimistic about the future of Tesla. We intend to remain one of its major shareholders for many years to come, ”said James Anderson, a director of the Scottish Mortgage Investment Trust.

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