Home Latest Elon Musk Donated Over $5 Billion Worth Of Tesla Stock To Unnamed...

Elon Musk Donated Over $5 Billion Worth Of Tesla Stock To Unnamed Charity Last Year – Forbes


Billionaire Tesla CEO Elon Musk donated more than $5 billion worth of shares in Tesla to an unspecified charity in November, he disclosed Monday, a transaction that came weeks after he promised to sell 10% of his holdings in the company.
Elon Musk, founder of SpaceX, speaks during the Satellite 2020 at the Washington Convention … [+] CenterMarch 9, 2020, in Washington, DC. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)
Musk transferred the 5,044,000 Tesla shares—which were worth more than $5.7 billion at the time—over the course of ten days in November, according to a Securities and Exchange Commission filing.
The filing called the transfer a “bona fide gift” to charity, but it did not say what charity received the shares.
It’s unclear who Musk donated his shares to, but one month beforehand, Musk responded to an article about the United Nations’ World Food Programme by tweeting he will donate $6 billion via sold Tesla stock to the organization if it can explain how his money would solve world hunger. 
WFP Executive Director David Beasley outlined a plan on Twitter and tagged Musk days before he donated the shares to an unspecified charity. 
Musk and Tesla did not immediately respond to Forbes’ requests for comment.
In November, Musk tweeted a poll asking his followers whether he should sell 10% of his stock in Tesla in an attempt to counter accusations of tax avoidance, to which nearly 58% of the 3.5 million voters said “yes.” Forbes estimated Musk would need to sell some 17 million shares—worth almost $15 billion as of Monday’s close—to reach this goal, and he sold more than 9 million shares in November. The sale could be necessary to cover a multibillion-dollar tax bill Musk would incur after exercising millions of Tesla stock options
$242.4 billion. That’s Musk’s net worth according to Forbes’ estimates, making him the world’s richest person, worth nearly $60 billion more than the family of the world’s second-richest person, LVMH CEO Bernard Arnault.


Previous articleiPhone 14: 5 things to know about Apple’s new 2022 phone lineup – The Indian Express
Next articleThis WhatsApp feature has been REMOVED today on latest version – HT Tech
Ashutosh is a social geek blogger and tech enthusiast from the old city of Rewari, but currently lives in Delhi to share his enthusiasm with The Hoops News team. He loves writing about technology and photography. He specializes the field of Internet Marketing and interested to dig deeper in the world of media and social networking.