Tesla CEO Elon Musk donated 268,000 Tesla shares worth approximately $112 million to charity, according to a regulatory filing dated December 30, 2024. Musk donated Tesla stock in 2021 and 2022. He donated $1.95 billion worth of stock in 2022. These donations were actually made. Between August and December. In 2021, he donated $5.7 billion worth of Tesla stock. These shares were donated to his foundation.
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Why Elon Musk donated his stock
The stock was sold as part of Musk’s “year-end tax planning,” as stated in a filing with the Securities and Exchange Commission. It was donated to a charity organization. showed. The charity that received the shares was not named and there are no plans to sell the shares in the near future, the filing states.
Despite this donation, Musk, the world’s richest man with a net worth of more than $415 billion (according to Bloomberg), still owns nearly 411 million Tesla shares through a trust he set up in 2003. . As of last year, Musk owned about 13 stocks. % of Tesla’s total equity, according to its 2024 corporate report.
Musk, who also leads companies such as SpaceX and social media platform X, acquired 304 million Tesla stock options in 2018. However, this compensation package has been rejected twice in Delaware courts and is currently being challenged by Tesla shareholders.
Musk’s fortune comes from his roles at companies such as Tesla, SpaceX, X (formerly Twitter), and the AI company xAI.
Judge denies Elon Musk’s salary
Last December, a Delaware judge again rejected Elon Musk’s record compensation package at Tesla. This means Tesla CEO Musk will not have access to a pay package whose potential value has soared along with Tesla’s stock price. “As of Monday, pay packages were worth $101.4 billion, according to compensation consulting firm Equilar.”
read more: The richest man in the world is fighting for his paycheck, but loses again.
Last month, Musk became the first person in history to have a net worth of more than $500 billion, according to the Bloomberg Billionaires Index. The milestone highlights his enormous influence across industries, including electric vehicles with Tesla, space exploration with SpaceX, and social media with his recently acquired Twitter (now rebranded as X).
