• Tenev confirmed that the 2% cash bonus for Tesla shares shifting to Robinhood's account will begin to be distributed.
• Robinhood's Q3 results showed that equity trading accounted for only a fraction of its total revenue.
• The development follows criticism from prominent Tesla investors who accused Charles Schwab of voting its ETFs against Musk's pay package - an allegation the brokerage has denied.

Fresh off a quarterly earnings call, Robinhood CEO Vlad Tenev made good on his promise of paying a 2% cash reward to move Tesla, Inc. (TSLA) shares from an outside brokerage or institution into a user's self-directed Robinhood account or a Robinhood IRA.

The retail trading platform reported third-quarter results, beating forecasts, after the close on Wednesday, buoyed by substantial transaction-based and net interest revenues. Specifically, equity trading revenue increased 132% year over year to $86 million, though it accounted for only a fraction of total revenue.

While Robinhood stock has soared over 280% year-to-date, Tesla stock is up a more modest 14.4%.

Robinhood's Tesla Offer

On Tuesday, Tenev ran a poll on the X platform to gauge public opinion on whether Robinhood should“do a match for people moving their $TSLA shares over.”  The results of the poll, which has since concluded, showed that an overwhelming 83% asked for a 2% incentive to move over, 6% stated that merely 1% would be enough for them, and 11% expressed willingness to push their Tesla shares into a Robinhood account for free. The poll received responses from nearly 19,000 X users. 

Quoting the poll results, Tenev said,“You voted. We're shipping. Get an uncapped 2% bonus on taxable and retirement transfers into Robinhood for portfolios with at least 1 TSLA whole share.” He also noted that the offer ends on Nov. 19 and is contingent on“terms and limitations.”

Terms and conditions, as outlined in Robinhood's Help Center, state that transfers to managed accounts are ineligible. The customer should have owned the shares intended to be transferred on or before November 3, the day preceding Robinhood's announcement. The 2% bonus is calculated on the net transferred asset value of each Tesla-inclusive transfer that settles in the applicable account. The bonus will be credited two weeks after the settlement.

Clarifying further, Tenev stated that the move was not a“recommendation of any investment or strategy” or a suggestion to transfer assets to the platform.“By participating, the customer represents and warrants that they beneficially held TSLA on or before Nov. 3, 2025, and the transfer should reflect the prior holding.” Rollovers are not eligible, he added. 

Tesla CEO Elon Musk commented on Tenev's post with a“fire” emoji.

Why It's Important

Tenev's move comes at a time when Tesla backers have pushed back against Charles Schwab (SCHW), claiming several of its brokerage ETFs voted against Tesla management's proposals for Musk's record pay package. Charles Schwab, however, clarified that it will vote in favor of Musk's 2025 CEO performance award.  The electric-vehicle (EV) maker's shareholders will vote on the proposals at an annual meeting at 4 p.m. ET on Thursday. 

According to TipRanks, public companies and individual investors own about 45% of Tesla's total outstanding shares. The next significant chunk of ownership is held by ETFs (approximately 25.6%), followed by insiders (15.5%) and mutual funds (14%).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

MENAFN06112025007385015968ID1110303121