Elon Musk Donates Over $5.7 Billion In Tesla Shares
Billionaire Tesla CEO Elon Musk donated a total of 5,044,000 shares in the world’s most valuable car manufacturer in November last year, according to its filing with the US Securities and Exchange Commission (SEC).
Musk’s donation was worth an impressive $5.74 billion, based on the closing prices of Tesla shares on the five days he donated the stock. However, the name of the charity that received the donation was not disclosed by the filing.
The $5.74 billion donation came as Musk sold $16.4 billion worth of shares after launching a Twitter poll in which he asked his followers whether he should offload 10% of his stake in the electric vehicle company in early November.
According to the Chronicle of Philanthropy, Musk’s donation ranks the Tesla CEO as the US’ second-largest donor following Bill Gates and Melinda French Gates last year.
However, Musk, as well as Amazon founder Jeff Bezos, have donated less than 1% of their net worth. By contrast, American billionaire investor Warren Buffett had given away over 20% of his net worth by early September of last year.