Elon Musk gave 5,044,00 shares of Tesla stock to charity, according to a recent US Securities and Exchange Commission (SEC) document. Sawyer Merritt shared a screenshot of the filing on Twitter. We can see that the shares were sold in November 2021 when Tesla’s stock was trading at over $1,000 per share.
Probably gifted it to Musk Foundation, which he chairs so maintains the vote rights unless cashed out. We should see later this year when Musk Foundation files their taxes as they're a 501(c)(3). This is where the St Jude's money and other donations he makes normally comes from
— 6463 OttoPilot (@6463dc) February 15, 2022
It’s not known yet what charity or charities were gifted the Tesla shares, but there are some thoughts floating around that it could be the Musk Foundation. This is a charity that has funded grants for other charitable organizations, such as XPRIZE and charitable organizations in Louisiana helping people recover from hurricane damage.
In 2020, during Hurricane Laura, the Musk Foundation made several donations to help Lake Charles and Southwest Louisiana with recovery efforts, food, housing, and clean water. It makes sense for Elon to gift his charity with Tesla [NASDAQ:TSLA] shares to help continue funding organizations that are making a positive impact on our world and communities.
However, we don’t know for sure yet if the shares actually were donated to the Musk Foundation or other charities (or both).
Another thought that showed up on Twitter is that the Tesla shares could be going to the World Food Program. Last year, Elon promised that if the organization could describe exactly how $6 billion would solve world hunger, he would sell his Tesla stock right then and provide the funding.
Maybe this? pic.twitter.com/riKWTePTh0
— SerGo (@SerGo__RU) February 14, 2022
It’s plausible to assume this considering that at November prices, this would have been well over $5 billion. But again, that’s just speculation. What we do know for sure is that Elon Musk cares a great deal about this world. It’s good to see him using Tesla stock to help others. I find it heartwarming and inspiring, even.
Hopefully we’ll know soon what charity or charities are benefitting from the kind gift of 5,044,000 shares of Tesla stock.
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