Instant news 24/7

Elon Musk donates over $5.5 billion to a charity in November

1 min read

            Tesla CEO Elon Musk gave a total of 5,044,000 shares in the world’s most valuable automaker to charity between November 19 and November 29 of last year, according to a filing with the US Securities and Exchange Commission on Monday.

The contribution was valued at $5.53 billion based on the closing price of Tesla shares on November 18.

Musk pushes the envelope in Tesla’s self-driving program.

The name of the charity was not disclosed in the application.

Late last year, the billionaire sold $16.4 billion in shares after polling Twitter followers about selling 10% of his investment in the electric vehicle manufacturer.

He indicated that, regardless of the Twitter poll, he needed to sell some of the stocks to pay taxes linked with the exercising of options that were set to expire this year.

Leave a Reply