SCHEDULE: Elon Musk's Tesla Stake Reaches 20.3%

Elon Musk has updated his beneficial ownership in Tesla, Inc., reporting a 20.3% stake as of September 30, 2025.

Summary

• Elon Musk beneficially owns 717,323,438 shares of Tesla, Inc. Common Stock, representing 20.3% of the class.
• This ownership includes 413,362,808 shares held by the Elon Musk Revocable Trust dated July 22, 2003.
• Also included are options to purchase 303,960,630 shares of Common Stock from the 2018 CEO Performance Award, exercisable within 60 days of September 30, 2025.
• The calculation excludes 96,000,000 shares of restricted common stock from the 2025 CEO Interim Award to avoid double counting with the 2018 CEO Performance Award.
• An additional 423,743,904 shares of restricted common stock from the 2025 CEO Performance Award are excluded from beneficial ownership as Mr. Musk does not have dispositive or voting control over them due to a voting agreement and irrevocable proxy.
• The percentage ownership is based on 3,325,819,167 shares of Common Stock outstanding as of October 16, 2025.

Sentiment

Score: 5

Explanation: The filing is a routine beneficial ownership update (Schedule 13G/A) and is largely factual, reporting a consistent ownership structure. It does not contain information that would significantly alter sentiment positively or negatively.

Positives

• Elon Musk maintains a substantial beneficial ownership stake of 20.3% in Tesla, indicating strong alignment with the company's long-term performance.
• His significant sole and shared voting and dispositive power over 717,323,438 shares provides stability and clear leadership influence.

Negatives

• The filing does not contain any explicitly negative information regarding the company's operations or financial health, as it is an ownership disclosure.

Risks

• The filing is an ownership disclosure and does not detail specific company risks. However, a significant portion of Mr. Musk's granted shares (423,743,904 shares from the 2025 CEO Performance Award) are subject to a voting agreement and irrevocable proxy, meaning he does not have direct voting or dispositive control over them, which could be a factor in corporate governance dynamics.

Future Outlook

This filing is an ownership disclosure and does not contain forward-looking statements or guidance regarding Tesla's future performance or strategic direction.

Industry Context

This filing provides transparency into the ownership structure of Tesla, a leading electric vehicle and clean energy company. Elon Musk's substantial stake is a key factor for investors, reflecting significant insider commitment in a highly competitive and rapidly evolving industry.

Comparison to Industry Standards

• NA

Corporate Governance

Related Party Transactions

• The filing details the beneficial ownership of Elon R. Musk, the CEO of Tesla, Inc., which is inherently a related party relationship. It specifically mentions shares held by the Elon Musk Revocable Trust and options from CEO Performance Awards.

Stakeholder Impact

• Shareholders: Provides transparency regarding the significant ownership stake of the CEO, which can influence investor confidence and perceptions of management alignment.
• Employees: No direct impact mentioned in this ownership filing.
• Customers: No direct impact mentioned in this ownership filing.
• Suppliers: No direct impact mentioned in this ownership filing.
• Creditors: No direct impact mentioned in this ownership filing.

Key Dates

Keywords

Tesla, Elon Musk, Beneficial Ownership, TSLA, Schedule 13G, Stock Ownership, CEO Performance Award, Voting Power