Sergey Brin was an early investor in Tesla, years before the company went public

Google confounder Sergey Brin is poised to make an estimated $100 million or more in sales of Tesla stock, as he is believed to be selling off his interests in the company after a report that Tesla CEO Elon Musk had an affair with Brin’s wife.

The Wall Street Journal first reported on the alleged affair, as well as the news that Brin instructed his financial advisers to sell all of his investments in Musk-owned companies.

Insider then explored how much that might actually be, noting that at the very least Brin invested $500,000 in Tesla in 2008, following “an unknown amount” in 2006. The Insider report indicated that Tesla’s SEC filings do not mention Brin so he would not have sold off his shares when Tesla went public in 2010.

Noting that Tesla stock sold for just $4 per share in 2010 and now is worth more than $800 per share, Insider’s Theron Mohamed estimates the value of Brin’s shares to be at least $100 million.

MUSK REACTS TO TWITTER BLAME FOR SECOND-QUARTER REVENUE MISS

The expected sale is just one aspect of the reported tension between Brin and Musk, once close friends, after the affair that reportedly took place in December 2021 and led to Brin and his wife Nicole Shanahan filing for divorce.  The Wall Street Journal reported that the divorce papers were filed weeks after Brin found out about the relationship between Shanahan and Musk.

Musk has denied both the affair and any problems between him and Brin.

ELON MUSK’S TESLA REPORTS DECREASE IN PROFITS, BEATING ESTIMATES, AND SELLS OFF MOST OF ITS BITCOIN

Tesla CEO Elon Musk (getty images / Getty Images)

“This is total bs. Sergey and I are friends and were at a party together last night! I’ve only seen Nicole twice in three years, both times with many other people around. Nothing romantic,” Musk tweeted Sunday night in response to the Wall Street Journal report.

Despite the denial, the report noted that Brin confirmed that Musk apologized to him at a party.

CLICK HERE TO READ MORE ON FOX BUSINESS

According to the Wall Street Journal, Shanahan is seeking more than $1 billion as the couple goes through divorce mediation. Brin, who co-founded Google with Larry Page in 1998 and once served as president of its parent company Alphabet, is worth an estimated $95 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *