Remember last year when Elon Musk said he would transfer $6 billion to the World Food Program (WFP) if the United Nations came up with a good plan? This does not appear to be a pure bluff. Last year, Elon Musk donated $5.7 billion in shares to the charity. That amounts to 5 billion euros. Between November 19 and 29, 2021, Musk transferred some 5 million shares, just days after his tweet to the WFP.
Bloomberg saw the donation to the unnamed charity in a filing with the Securities and Exchange Commission (SEC). So it is not known whether the shares really went to the UN, but it is certain that a charity (or charities) has received a substantial donation from Elon Musk. The donation came after the Tesla boss sat down with prominent figures like Bernie Sanders to discuss inequality and a proposed wealth tax.
The donation could also benefit Musk
Not to downplay one of the largest charitable donations of all time, but Bloomberg notes that a donation can be beneficial for Elon Musk. The CEO sold $16 billion in shares last year and then announced that he had to pay $11 billion in taxes. A hefty donation would probably get him a discount on the tax.
It is unknown whether it will save him more than $6 billion in tax credits. Let’s focus on the fact that there is a good cause with a lot of pocket money to do beautiful things with. Elon Musk is currently worth approximately $227.3 billion, with much of his wealth in Tesla stock.
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