Elon Musk has donated $5.7 billion in Tesla shares to charity

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Tesla CEO Elon Musk has donated stocks of the electric automobile maker worth about $5.7 billion to charity.

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The donation of 5,044,000 stocks changed into disclosed in a filing with america Securities and Exchange Commission on Monday. According to the filing, the shares have been talented among November 19 and November 29 last year, without naming the recipient or recipients of the stocks.

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Tesla's inventory became trading above $1,000 in line with proportion at the time of the donation. The value of the donated shares became $five.7 billion primarily based at the common of the best and lowest expenses at the transaction date.

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The charitable donation will make Musk the second-biggest US donor in 2021. The Tesla CEO trails handiest Bill Gates and Melinda French Gates, who gave $15 billion ultimate 12 months inside the Chronicle of Philanthropy's annual ranking.

The charitable donation will make Musk the second-biggest US donor in 2021. The Tesla CEO trails handiest Bill Gates and Melinda French Gates, who gave $15 billion ultimate 12 months inside the Chronicle of Philanthropy's annual ranking.

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Previous securities filings show that Musk bought more than $16 billion in Tesla shares within the final two months of 2021, maximum of a good way to pay a kind of $11 billion U.S. Federal tax invoice.

Previous securities filings show that Musk bought more than $16 billion in Tesla shares within the final two months of 2021, maximum of a good way to pay a kind of $11 billion U.S. Federal tax invoice.

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Donated stocks aren't difficulty to capital gains tax and their value may be used as a deduction to assist meet the tax bill.

Donated stocks aren't difficulty to capital gains tax and their value may be used as a deduction to assist meet the tax bill.

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Tesla did not straight away respond to a request for extra details about the donated stocks. Musk has installation a foundation that makes presents to help reasons consisting of kid's research and technological know-how schooling.

Tesla did not straight away respond to a request for extra details about the donated stocks. Musk has installation a foundation that makes presents to help reasons consisting of kid's research and technological know-how schooling.

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Musk, the world's richest man, was challenged ultimate year with the aid of the director of the United Nations' World Food Program (WFP) to make a donation that could help cease world hunger.

Musk, the world's richest man, was challenged ultimate year with the aid of the director of the United Nations' World Food Program (WFP) to make a donation that could help cease world hunger.

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"If WFP can explain on this Twitter thread precisely how $6 billion will remedy global hunger, I'll promote Tesla stock and do it right now," Musk wrote on Twitter in October.

"If WFP can explain on this Twitter thread precisely how $6 billion will remedy global hunger, I'll promote Tesla stock and do it right now," Musk wrote on Twitter in October.

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"If WFP can explain on this Twitter thread precisely how $6 billion will remedy global hunger, I'll promote Tesla stock and do it right now," Musk wrote on Twitter in October.

"If WFP can explain on this Twitter thread precisely how $6 billion will remedy global hunger, I'll promote Tesla stock and do it right now," Musk wrote on Twitter in October.

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"Millions of human beings around the arena are getting ready to hunger. Whether or now not WFP gets any of that money, I'm pleased to pay attention that Alvin is engaged. It's an remarkable and brilliant first. Step." WFP Executive Director David Beasley said in a statement on Tuesday.

"Millions of human beings around the arena are getting ready to hunger. Whether or now not WFP gets any of that money, I'm pleased to pay attention that Alvin is engaged. It's an remarkable and brilliant first. Step." WFP Executive Director David Beasley said in a statement on Tuesday.