Tesla CEO Elon Musk donated $5.7 bn of company shares to charity in November

Tesla head Elon Musk has informed that he offered almost $6 billion of the company's shares to charity in November last year. According to a Bloomberg report, Musk donated $5.74 billion shares from November 19 to November 29, according to a filing with the Securities and Exchange Commission.

File photo of Tesla chief Elon Musk. (AFP)
File photo of Tesla chief Elon Musk.

The donation amount has been based on the average prices on the days he sold the stock. The report mentioned it is one of the biggest amounts given to a charity in history. However, the name of trust was not revealed in the documents.

Also Read : Elon Musk points to ‘fun police’ for boombox on Tesla EVs 

The report mentioned the charity move was a follow up of the battle that Tesla CEO was fighting with politicians that included Bernie Sanders and Elizabeth Warren over inequality and a potential wealth levy. Musk also suggested he’d sell stocks if the United Nations could prove it would help solve world hunger after the head of the organisation’s food-aid arm suggested billionaires like him should “step up now, on a one-time basis."

Also check these Cars

Find more Cars
Tesla Model 3 (HT Auto photo)
UPCOMING
₹ 70 - 90 Lakhs* *Expected Price
View Details
Tesla Model S (HT Auto photo)
UPCOMING
₹70 Lakhs - 1 Cr* *Expected Price
View Details
Byd Atto 3 (HT Auto photo)
₹ 33.90 Lakhs* *Ex-showroom price
Add to compare
Bmw 3 Series (HT Auto photo)
₹ 42.30 - 62.90 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Bmw 3 Series Gran Limousine (HT Auto photo)
₹ 57.90 - 59.50 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Mahindra Thar (HT Auto photo)
₹ 10.98 - 16.94 Lakhs* *Ex-showroom price
Add to compare
Check latest offers

Musk's eponymous foundation became more active in recent years, with large, eight-figure offerings promised to the city near his South Texas spaceport, a $100 million competition for carbon removal and $5 million to two scientists for Covid-19 research. In the past, his foundation’s biggest contributions were made to donor-advised funds (DAFs) where charitable money could continue to sit.

Also Read : Tesla CEO Elon Musk boosts campaign for autonomous driving technology

An earlier report had stated Tesla will not pay any federal taxes this year as the EV company’s recent financial filing with the Securities and Exchange Commission show its federal tax bill totalled nothing. Though, Musk shared he is expected to pay tax bills roughly of amount $11 billion to the Internal Revenue Service, but may not have to pay such federal taxes for some time to come.

First Published Date: 15 Feb 2022, 15:36 PM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
74% OFF
IDELLA Car Duster, Extendable Long Handle Microfiber Car Duster Exterior Scratch Free Car Cleaning Tool, Car Dust Brush for Truck, Pickup, SUV, RV, Motorcycle, Vehicles Cleaning,(Multicolor)
Rs. 238 Rs. 899
55% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 899 Rs. 1,999
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.