Musk Has Donated Nearly $2bn of Tesla Shares to Charity Last year, ElonMuskmade a charitabledonationof approximately $1.95 billion worth of shares in his electric car company. The donation of 11.6 million shares was referred to as a “bona fide gift” in a filing with US regulators. However, the recipient or recipients of the donation were not named in the filing. The donation was made between August and December of 2022, according to the filing. In 2021, Musk donated about $5.74 billion worth of Tesla shares, according to a regulatory filing, and stated on Twitter that he planned to donate $20million to schools in Cameron County and $10 million to Brownsville, Texas for downtown revitalisation. In addition, he suggested that he would locate his successor as CEO of Twitter by the end of 2023, stating that this year would be an appropriate time to do so. With an estimated net worth of $197.5 billion, this is not the first time Mr. Musk has given Tesla stock to charitable organizations. “I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year,” he commented. “I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out.” FTX Founder Hit with New Charges Sam Bankman-Fried, the former CEO of the now-collapsed cryptocurrency exchange FTX, is facing four new criminal charges. He’s accused of conspiring to commit bank fraud and make illegal political donations. Previously, Mr Bankman-Fried pleaded not guilty to charges of defrauding customers and investors. With the new charges, he now faces a total of 12 criminal charges and could face more than 100 years in prison if convicted. Prosecutors claim that he conspired with two other former FTX executives to donate tens of millions of dollars to influence US politicians to pass laws favourable to the company. Allegedly, these donations were made through “straw” donors or with corporate funds, allowing Mr Bankman-Fried to evade contribution limits. His Alameda Research hedge fund and FTX customer funds were used to fund many of these donations. Judge Lewis Kaplan has set a trial date of 2 October. A spokesman for Bankman-Fried declined to comment on the charges. Photo: Wikicommons - Debbie Rowe
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