Elon Musk donates $5.5+ billion worth of Tesla (TSLA) shares to charity

Fresh off selling nearly $20 billion in Tesla (TSLA) shares, CEO Elon Musk has divested himself of 5,044,000 shares of his company.

Instead of the proceeds going to help pay the largest tax bill in U.S. history, Musk has donated the shares to an unnamed charity.

According to a Form 5 filing with the U.S. Securities and Exchange Commission (SEC) published this afternoon, the shares were sold in varying amounts in mid to late November 2021.

Based on share prices at the time, the donation is worth more than $5.5 billion.

The Form 5 does not specify who received the shares, only to say it was “a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.”

The donation was made just a few weeks after Musk said he would sell $6 billion in shares if the UN World Food Program (WFP) could prove the money would solve world hunger.

Tesla nor Musk have not commented on who the donation went to. The WFP has also not confirmed they were the recipient of the donation.

You can see the full Form 5 filing below.

000089924322006240-gen

Disclaimer: Darryn is a TSLA shareholder and has no plans to change positions within 72 hours.

Are you buying a Tesla? If you enjoy our content and we helped in your decision, use our referral link to get C$1,300/US$1,000 off your purchase.
Previous Article

It happened again – Tesla Model Y Performance also delivered with missing brake pad

Next Article

Chilliwack Tesla Supercharger now open [British Columbia]

You might be interested in …

lges

LG Energy Solution announces $5.6 billion investment to restart stalled battery factory project in Arizona

LG Energy Solution has confirmed that it will restart its $5.6bn battery project in Arizona to be eligible for federal incentives under the Inflation Reduction Act. The South Korean company initially announced a $1.3bn investment […]