Elon Musk donates nearly $6 billion in Tesla shares

 Elon Musk donates nearly $6 billion in Tesla shares

The world's richest man said he gave away more than 5 million Tesla shares in November last year.

According to documents filed with the US Securities and Exchange Commission (SEC), Tesla CEO Elon Musk donated more than 5 million Tesla shares between November 19 and November 29. The shares are worth $5.7 billion, based on the average price for that period. This is one of the largest charitable donations in history. The name of the charity receiving the number was not disclosed.

Tesla CEO Elon Musk. Photo: Bloomberg

Tesla CEO Elon Musk. Photo: Bloomberg

The donation comes amid Musk's war of words with American politicians over income inequality and wealth taxes. At that time, Musk announced that he would sell shares if the United Nations could prove it could solve global hunger after David Beasley - director of the World Food Program (WFP) under the United Nations. suggests billionaires like Musk can "donate now and just once".

Still, analysts say making a large donation to charity last year will also help Musk reduce some of the biggest tax bill in US history. In December 2021, Bloomberg calculated that Musk must pay more than $10 billion to the US Taxation Office, based on the number of stock options he exercised last year.

In recent years, Musk has been very active in philanthropy. He once supported 100 million USD for a carbon emission reduction contest, donated 5 million USD to two scientists with research on Covid-19. These activities are carried out through the Musk Foundation.

Musk is currently the richest person in the world, with $227 billion, according to the Bloomberg Billionaires Index.