Elon Musk, CEO of Tesla, has donated over 210,000 Tesla shares as part of his year-end tax planning. The donated shares are valued at approximately $97.5 million, based on Tesla’s December 30 high of $463.12.
Details of the Donation
- The donation was made on December 30 and consisted of 210,699 Tesla shares.
- The shares were transferred at $0.00 as a gift, rather than a sale.
- The donation is part of Musk’s year-end tax planning, according to influencer Sawyer Merritt.
Reaction from Sawyer Merritt
Sawyer Merritt, an influencer, reported on the donation, stating that the shares were transferred to Musk’s charitable trust. Merritt also noted that the donation was made as part of Musk’s tax planning strategy.
Elon Musk’s Tax Payments
In a separate post, Musk claimed that his tax payments were so large that they “broke” the Internal Revenue Service (IRS) system. Musk stated that the IRS had to update their software to process his tax payment, which was too large for their system to handle.
Elon Musk vs. Bernie Sanders
Musk has been critical of Senator Bernie Sanders, calling him a “taker” who cannot create anything. Musk has also stated that his wealth is tied to Tesla and SpaceX shares, and that an increase in share value will occur with the production of high-quality products and services. Sanders, on the other hand, has been a vocal critic of Musk and other billionaires, advocating for increased taxation on the wealthy.
Cybercab Production Scale
Musk has announced that Tesla will scale up production of the Cybercab next year, amid ongoing Robotaxi testing in Austin. Musk has also claimed that he was driven around autonomously in a Model Y Robotaxi, and that a prototype Cybercab was spotted in Austin.
Current Price of Tesla Shares
The current price of Tesla shares is $449.58, after slipping 1.04% to $449.72 at market close on December 31.
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