Soros Fund Management cuts Tesla stake

Soros Fund Management, the family office of billionaire George Soros, has sold its stakes in electric vehicle makers Tesla and Rivian, and has added shares in Netflix, according to filings released on Friday. Soros purchased Tesla and Rivian shares in 2022 and $35m of Tesla convertible bonds in 2018. The firm added new positions in Walmart, Netflix, JD.com, CSX Corp, and Norfolk Southern Corp. Soros cut its stakes in Walt Disney Co by 75%, and in Rivian Automotive by a similar amount. Soros is worth an estimated $6.7bn, according to Forbes.