An army of Tesla fans in South Korea holds a collective stake of more than $15 billion in Elon Musk's company, putting them among its top shareholders, report says

Retail investors in South Korea hold a combined stake of more than 15 billion dollars in the electric car company.

One family invested their entire $230,000 life savings intoTesla stock.

The stake held by retail investors in South Korea is equivalent to 1.6% of the company, more than the holdings of billionaires Larry Ellison and T. Rowe Price.

Some of the South Korean fans of the company are referred to as "Teslams," a reference to "Tesla" and "Islam."

The combined holdings of South Korean retail investors grew more than a hundredfold during the time when many boughtTesla stock.

After being priced out of buying a new home, Park and her husband put their savings into the stock of the electric car company. Park thought we could go all-in with this man.

Year-to-date, the stock is down 15.8%. Interest rate hikes and recession fears have led to a broad decline in the tech sector. In June, the stock fell after Musk said he was thinking about job cuts.

Musk sold his shares in the company to raise cash in case he is forced to buy the social networking site. The data shows that Musk has about 155 million shares in the company.