Soros’ investment fund is selling interest in Tesla and shares in Rivian

Billionaire investment firm George Soros has sold all of his stake in electric car maker Tesla and most of his stake in rival Rivian Automotive. This emerged from a report by Soros Fund Management to the US stock market watchdog SEC.

It was about a $16 million equity interest in Tesla. Soros Fund Management had bought those shares in the second quarter of last year. The fund also sold shares of technology companies such as Apple, Salesforce and Amazon.

In addition, 10.8 million shares of Rivian were sold in the first quarter. The investment firm now owns about 3.6 million shares of Rivian. Rivian’s share price has fallen sharply since the peak in November 2021 due to a price war in the electric vehicle market and various problems at the company.

Soros, 92, has an estimated net worth of $8.5 billion. The American-Hungarian investor is the founder of the Open Society Foundations, which, in his own words, is dedicated to “inclusive and dynamic democracy” through donations.