Billionaire CEO Elon Musk has donated 268,000 Tesla Inc. shares to charity before the onset of 2025. This donation was made as part of Musk’s year-end tax planning, according to a regulatory filing dated December 31.
Details of the Donation
- The filing stated that Musk gave the shares to “certain charities” and that these charities “have no current intention to sell such stock.”
- The names of the charities were not disclosed in the filing.
- Following the transaction, Musk still owns 410.794 million shares of the company.
Value of the Donation
- Considering Tesla’s closing price of $379.28 on Thursday, the 268,000 shares Musk gave to charity are worth $101.6 million as of today.
- This significant donation reflects Musk’s commitment to giving back to the community.
Elon Musk’s Net Worth and Philanthropy
- According to the Bloomberg Billionaire Index, Musk has a total net worth of $415 billion, significantly higher than Amazon founder Jeff Bezos, who seconds Musk with a $239 billion net worth.
- Musk is also CEO of rocket manufacturing company SpaceX and owns X Corp, the company that owns the social media platform X.
- The billionaire’s charitable foundation, the Musk Foundation, makes grants in support of human space exploration and advocacy, science and engineering education, and development of safe artificial intelligence, among other causes.
Conclusion
Elon Musk’s donation of over $101 million in Tesla stock to charity demonstrates his dedication to philanthropy and giving back to the community. As one of the wealthiest individuals in the world, Musk’s charitable efforts are likely to have a significant impact on the causes he supports.