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Soros Slashed Rivian Stake After 90% Drop From Peak, Exits Tesla

  • Billionaire’s equity portfolio valued at about $5 billion
  • Soros also trimmed Alphabet, Amazon.com, Salesforce, Intuit
The interior of the Rivian R1T electric vehicle (EV) pickup truck at the company's manufacturing facility in Normal, Illinois.

The interior of the Rivian R1T electric vehicle (EV) pickup truck at the company's manufacturing facility in Normal, Illinois.

Photographer: Jamie Kelter Davis/Bloomberg
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George Soros’s investment firm cut holdings in electric-vehicle makers, slashing a stake in Rivian Automotive Inc. after a 90% share decline and eliminating an investment in Tesla Inc.

Soros Fund Management sold about 10.8 million shares of Rivian stock in the first quarter, reducing the market value of the stake to $55.4 million, according to a regulatory filing Friday. The remaining 3.6 million shares are about 1.1% of Soros’s roughly $5 billion US equities portfolio, which fell about $687 million in the first quarter.