Tesla CEO Elon Musk Donated Over R85.4bn to Charity in 2021
- The world’s richest person, Elon Musk, donated nearly $5.7 billion worth of Tesla shares to charity last year
- The massive gift was paid out in five transactions to unidentified non-profit organisations in just ten days
- This philanthropic move came after Musk challenged that he’d sell his stocks if the United Nations proved $6 billion would help solve world hunger
PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly News on your News Feed!
In the true spirit of Ubuntu, as founded in his home country of Mzansi, the world’s richest person Elon Musk has used his good fortune to bless those in need by donating nearly $5.7 billion worth of Tesla shares to charity last year.
Heeding the call to assist organisations that depend on selfless individuals for funds to keep them afloat, Musk tapped into his inner philanthropist by sharing a total of 5,044,000 shares in the world’s most valuable carmaker to unnamed charities in just 10 days in November 2021.
Source: Getty Images
The Independent UK reported that he gave the stock away in five transactions, according to the US Securities and Exchange Commission. The names of the reception charities remain unknown.
Al Jazeera also reported that the donation occurred as Musk debated with politicians including Bernie Sanders and Elizabeth Warren over inequality and a proposed wealth tax.
PAY ATTENTION: Never miss breaking news – join Briefly News' Telegram channel!
Leading up to the massive donation, Musk suggested he’d sell his stock if the United Nations proved $6 billion would help solve world hunger after the head of the organisation’s World Food Programme called for billionaires like Musk to “step up.”
The massive donation to charity would help reduce what Musk has said would be the biggest tax bill in US history.
World’s richest person, Elon Musk, shares he’ll pay R175 billion in tax this year
Meanwhile Briefly News previously reported that the Chief executive officer of Tesla Inc, Elon Musk, took to his Twitter this morning to confirm that he will be paying more than $11 billion (about R175.49 billion) in taxes last year.
News24 reported that Musk may face a tax bill of more than $10 billion for 2021 if he exercises all his options due to expire next year, calculations last week by Bloomberg News showed.
It is reported that this is the amount that could constitute a record payment to the United States Internal Revenue Service.
According to Bloomberg, the hefty amount comes after Musk exercised almost 15 million options and sold millions of shares to cover the taxes related to those transactions.
“That was following a Twitter poll last month when he asked followers whether he should sell 10% of his stake in the electric carmaker, whose shares have rocketed more than 2,300% over the past five years,” said Bloomberg.
Source: Briefly News
