Elon Musk Donated Tesla Shares Worth $5.7 Billion To Unspecified Charities

One of the world’s richest men Elon Musk has revealed that he donated his Tesla shares worth $5.7 billion to unspecified charities in November 2021. The announcement was made through a regulatory filing with the Securities and Exchange Commission that didn’t name the name of the organization involved in the transactions.

As per the filing, Musk donated the shares through 5 different transactions in November month. Shared valued $5.7 billion at the time of transactions and due to pullback in the company’s shares, now are valued at $4.4 billion. The donation came in the wake of the Tesla CEO’s Twitter indulging in the Twitter spar with politicians like Bernie Sanders and Elizabeth Warren over inequality and a proposed wealth tax.

Responding to an estimation by World Food Program (WFP) Director David Beasley which said that the Tesla CEO’s 2% of wealth could solve the problem of world hunger, Musk challenged him that he would sell his stocks and give the money if the WFP explained how his money would be utilized for the same.

Musk tweeted, 

“If (the United Nations World Food Programme) can describe … exactly how $6 billion will solve world hunger, I will sell Tesla stock right now and do it.”

Stating $6 billion will not solve the issue of world hunger, the WFP head tweeted a thread on Twitter tagging the Tesla CEO.

“@elonmusk! Headline not accurate. $6B will not solve world hunger, but it WILL prevent geopolitical instability, mass migration and save 42 million people on the brink of starvation. An unprecedented crisis and a perfect storm due to Covid/conflict/climate crises,” Beasley tweeted in his Twitter thread.

“With your (Elon Musk) help we can bring hope, build stability and change the future.

Let’s talk: It isn’t as complicated as Falcon Heavy, but too much at stake to not at least have a conversation. I can be on the next flight to you. Throw me out if you don’t like what you hear!” Beasley added.

While on the other hand, hunger continues to hike as the latest data of WFP mentioned that 10% (811 million) of the world population goes to bed hungry. The numbers are higher by 161 million than the previous year. 

With the donation, Musk has now become the second person to make the highest donation in the United States, after Microsoft founder Bill Gates. Elon, in November 2021, had tweeted a poll in which he asked the users whether he should sell his 10% of stocks in Tesla in order to counter the accusations of tax avoidance against him.

Forbes mentions Musk’s net worth as $233.6 billion and he was named as the world’s richest man in January 2021. Musk had signed the ‘Giving pledge’ that was launched by Bill Gates and Warren Buffett in 2012. The Pledge encourages the richest people to contribute the majority of their wealth to philanthropic causes.

Born on June 28, 1971 Musk is the brain behind several renowned startups, including PayPal, Zip2, SpaceX, and Neuralink. He was the Time Magazine’s ‘Person of the Year 2021’.