# A long-term Elon Musk backer is cashing out of Tesla — and cutting its SpaceX exposure

- URL: https://talkfuse.com/story/a-long-term-elon-musk-backer-is-cashing-out-of-tesla-and-cutting-its-spacex-exposure/
- Published: 2026-11-06T13:51:32+00:00
- Updated: 2026-11-06T14:41:20+00:00
- Original publisher: CNBC (publisher lean: Centre)
- Original article: https://www.cnbc.com/2026/11/06/scottish-mortgage-tesla-spacex.html
- Topics: Business, Space, Technology

## Key points

- Scottish Mortgage is selling its Tesla shares after a 13-fold return.
- It cited valuation concerns and tougher competition, especially in China.
- Tesla and SpaceX lost a combined $420 billion in market value since Tuesday.

## Summary

Scottish Mortgage Investment Trust is selling its Tesla shares after deciding that the company’s share price already reflects much of its potential in autonomous driving and robotics. The trust also cited growing competition in Tesla’s core car business, especially in China.

The trust said its investment, first made in 2013, had returned 13 times the capital invested. Tesla and SpaceX shares fell about 11% and 9% on Thursday, respectively, leaving their combined market value more than $420 billion below Tuesday’s close, amid concerns that Elon Musk’s companies could face congressional scrutiny and tighter regulation. Scottish Mortgage is among several UK investment trusts that backed SpaceX early; another Baillie Gifford trust, Edinburgh Worldwide, faced an activist campaign in 2025 in which its SpaceX holding became a point of dispute.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.