Tesla CEO Elon Musk is once again in the headlines. According to a regulatory filing released on December 30, Musk donated 2,68,000 Tesla shares worth about $112 million (about Rs 960 crore).
Musk’s donation: Has given shares on a large scale earlier also
This is not the first time Elon Musk has donated Tesla shares on a large scale:
- In 2022: Musk donated Tesla shares worth $1.95 billion (Rs 16 thousand crore) between August and December.
- In 2021: He donated Tesla shares worth $5.7 billion (Rs 48 thousand crores), which were later revealed to be given to his own foundation.
Reason for donating shares: Tax and charity
The donations were made as part of “year-end tax planning,” a filing with the Securities and Exchange Commission (SEC) said.
- The shares have been donated to “some charity”, but the name of the charity has not been disclosed.
- It has also been made clear in the filing that the recipients of these shares have no intention of selling them.
Musk is the richest person in the world
According to Bloomberg, Elon Musk’s net worth is more than $415 billion (Rs 3.55 lakh crore).
- Despite this donation, Musk still owns 411 million shares of Tesla, which he holds through a trust he established in 2003.
- As of 2024, Musk holds 13% of total Tesla shares.
The controversial compensation package of 2018
- In 2018, Musk was given a compensation package of 304 million Tesla stock options.
- However, the Delaware court rejected this.
- Tesla shareholders have also opposed this package
