The world’s second-richest particular person now owns round 13% of Tesla.
Tesla chief govt Elon Musk donated shares price $1.95 billion on the planet’s most beneficial automaker to charity final 12 months, a submitting with the US Securities and Change Fee (SEC) confirmed on Tuesday.
Musk donated about 11.6 million shares between August and December final 12 months, in accordance with the submitting, which didn’t say which group or organizations had been the recipients.
The world’s second-richest particular person now owns round 13% of Tesla.
Tesla didn’t instantly reply to an e-mail looking for particulars on which charity or charities obtained the donations.
Musk donated about $5.74 billion in 2021.
Analysts have mentioned that Musk would possibly profit from gifting Tesla inventory if he donated it to charity, since shares donated to charities don’t have to pay capital beneficial properties tax, as they’d in the event that they had been bought.
Musk signed the Giving Pledge in 2012, a dedication by some billionaires to provide a minimum of half their wealth to philanthropy of their lifetime or upon their demise.
In 2001, he arrange the Musk Basis, providing grants for the “improvement of secure synthetic intelligence to profit humanity” amongst different causes, in accordance with its web site.
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(Aside from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)
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