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Elon Musk donated $5.7 billion in Tesla stock to charity in November


  • A new filing with the SEC has revealed that Tesla CEO Elon Musk donated more than 5 million Tesla shares worth about $5.7 billion to charity.
  • The donations made in November came days after the UN gave Musk details of its plan to fight world hunger.
  • The filing did not specify which charity Musk donated to, but did note that a trust was involved in the transactions.

Tesla CEO Elon Musk donated more than 5 million Tesla shares in November, just days after the United Nations’ World Food Program (WFP) gave details of a plan for how $6 billion could help fight world hunger.

Musk’s charitable donation was disclosed in a U.S. Securities and Exchange Commission filing made public on Monday. It showed that Musk offered a total of 5.044 million Tesla shares from Nov. 19-29. The filing did not specify which charity Musk donated to, but did note that a trust was involved in the transactions.

Based on average Tesla stock prices on the days Musk sold them, the donations totaled $5.7 billion, according to a Bloomberg calculation.

Musk made the donations while he was in the process of selling shares to cover taxes on exercising options that will expire in August this year.

Around the time, Musk was involved in a Twitter exchange with WFP Executive Director David Beasley, who told CNN’s “Connect the World” on Oct. 26 that a $6 billion donation from billionaires such as Musk and Jeff Bezos could help 42 million people. were literally going to die if we didn’t reach them.

On October 31, Musk disputed the claim that the specific amount would solve the hunger crisis, saying the Twitter that if the PAM could show its calculations, then it would “sell Tesla stock right now and do it”.

Beasley returned with a plan for Musk on November 16, detailing how the WFP would use $6.6 billion to fight famine.

Tesla did not respond to Insider’s requests for comment on the destination of the donations. MarketWatch noted that Musk runs his own philanthropic organization, the Musk Foundation, which provides grants for renewable energy research and advocacy work, among other causes.

WFP spokesman Steve Taravella declined to tell Insider whether the WFP was the recipient of the donation. He told Insider that his practice “has always been to leave any disclosure of possible contributions to the donors themselves.”

According to the Bloomberg Billionaires Index, Musk is the richest man in the world with a current net worth of $227 billion.



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