Oracle Corp. founder Larry Ellison owns 1.75% stake – worth $1 billion - in Tesla, making him the second-largest individual investor in the electric car manufacturing company. His holding was confirmed in a filing Tuesday with the U.S. Securities and Exchange Commission (SEC). Tesla co-founder & CEO Elon Musk owns about a fifth of the company, according to data compiled by Bloomberg.
According to the filing, Ellison indirectly owns 3 million Tesla shares through the Lawrence J. Ellison Revocable Trust. Ellison became a member of Tesla’s board in December. In October, Ellison had indicated that he had been investing in Tesla, and that it was his second-largest holding.
In 2018, the SEC accused Musk of posting “false and misleading” tweets about securing funding for taking Tesla private. In addition to imposing fines, the SEC ordered greater board oversight at Tesla among other directives.