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Elon Musk donates more than $5 billion worth of Tesla stock

Vanity Fair
Image Source: Vanity Fair
Wikimedia Commons

Tesla CEO Elon Musk
Image Source: Wikimedia Commons

CEO of Tesla Motors, Elon Musk, had donated more than $5 billion worth of Tesla shares to an unspecified charity in November 2021 as per Forbes reports. Elon Musk had transferred 5,044,000 Tesla shares, which were worth more than $5 billion at that time.

The donation was made over ten days to the said charity in November. This report came to light after Tesla had filed its reports to the Securities and Exchange Commission.

According to the filing, the donation was called a ‘bona fide gift’ to charity, however, the filing did not say to which charity had the shares been given. Although the charity is unknown, he had commented on an article about the United Nations’ World Food Programme (WFP).

He said in a tweet that he will contribute $6 billion to charity by selling his Tesla stock. He further tweeted that the only condition is if the organization could explain to him how it would solve world hunger with those funds.

In a response to Mr Musk’s question, the WEF Executive Director outlined a plan on Twitter and had tagged Elon Musk. This plan was created a few days before the donation was made to the unknown charity.

References: Zee News

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