Elon Musk Donated $5 Billion Worth of Tesla Shares to Unnamed Charity in November 2021: Report
Tech billionaire Elon Musk has donated more than $5 billion worth of Tesla shares to an unspecified charity in November 2021, Forbes reported.
San Francisco: Tech billionaire Elon Musk has donated more than $5 billion worth of Tesla shares to an unspecified charity in November 2021, Forbes reported. Musk transferred the 5,044,000 Tesla shares -- which were worth more than $5.4 billion at the time -- over the course of 10 days in November, according to a Securities and Exchange Commission filing. Tesla Recalls Over 5.78 Lakh Cars Over a Potential Issue With Boombox Feature: Report.
The filing called the transfer a "bona fide gift" to charity, but it did not say what charity received the shares, the report said on Monday. It is unclear who Musk donated his shares to, but one month beforehand, Musk responded to an article about the United Nations' World Food Programme (WEF) by tweeting he will donate $6 billion via sold Tesla stock to the organisation 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 per cent of his stock in Tesla in an attempt to counter accusations of tax avoidance, to which nearly 58 per cent 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 above story first appeared on LatestLY on Feb 16, 2022 03:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).