Elon Musk's own brother among Tesla insiders who've unloaded more than $100M in shares

Share prices of electric car manufacturer Tesla have been tanking in recent weeks as CEO Elon Musk draws controversy by taking a hatchet to the federal workforce.

ABC News reports that recent filings with the Securities and Exchange Commission show that "members of the board and an executive at Elon Musk's company have been selling off millions of dollars in stock" since the start of February as the company's market cap has shed hundreds of billions of dollars in value.

In fact, Tesla insiders have dumped $100 million worth of shares since the start of February.

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"Last week, longtime Musk ally James Murdoch -— the estranged son of Fox boss Rupert Murdoch and a board member since 2017 -— became the latest to do so, exercising a stock option and selling shares worth approximately $13 million, according to an SEC filing," writes ABC News. "The sale took place on March 10, coinciding with the stock's largest single-day decline in five years."

Additionally, ABC found that "Elon Musk's brother, Kimbal Musk, who also sits on the board, unloaded 75,000 shares worth approximately $27 million last month" and "the chairman of the board, Robyn Denholm, has offloaded more than $75 million dollars worth of shares in two transactions in the past five weeks."

Tesla dealerships have become the targets of nationwide protests and boycotts as activists channel their anger toward Musk's slash-and-burn campaign against the federal workforce by trying to damage the value of his flagship business.