£13m of local public sector workers’ pensions divested from Tesla as NILGOSC ditches stock for first time in years
Almost £13m pounds worth of local public sector workers’ pensions have been divested from the electric car manufacturer Tesla.
The newly-published equity holdings for the NI Local Government Officers’ Superannuation Committee (NILGOSC) for the year ending March 31, 2025, show it no longer has any share holding in the company.
It is the first time in years that the pension contributions of local Education Authority, NIHE, Magee, City of Derry Airport, NWRC, Ulsterbus and other public servants have not been invested in Tesla.
Last year 92,894 shares with a combined value of £12,924,637 were held in Tesla Inc. However, the latest holdings show this has been divested.
NILGOSC’s overall equity holdings increased from £4,122,670,307 at the end of March 2024 to £4,385,749,193 at the end of March this year.
The Texas headquartered car maker was founded by Martin Eberhard and Marc Tarpenning as Tesla Motors in 2003.
The current Chief Executive Officer (CEO) of the company is the South African businessman Elon Musk.