Elon Musk has donated 268,000 Tesla shares, valued at nearly $112 million, to charity. This donation was revealed in a regulatory filing on December 30, 2024.
It follows previous donations Musk made in 2021 and 2022, where he gave $5.7 billion and $1.95 billion worth of Tesla shares, respectively.
Why the Donation Was Made
According to the filing, Musk donated the shares as part of his “year-end tax planning” to certain charities that have “no current intention to sell such stock.” The names of the charities receiving the donations were not disclosed.
Despite these donations, Musk still holds a significant amount of Tesla shares. He owns about 411 million shares through a trust, which represents roughly 13% of Tesla’s total shares.
Ongoing Legal Battles Over Compensation
Musk’s legal battles continue, especially regarding his compensation package at Tesla. A Delaware judge rejected his record-breaking pay package in December 2024, which was valued at $101.4 billion. This decision comes after Musk’s stock options, awarded in 2018, were contested by Tesla shareholders.
Musk’s Wealth and Influence
Musk’s fortune is largely tied to his roles at Tesla, SpaceX, X (formerly Twitter), and xAI. In December 2024, he became the first person to reach a net worth of over $500 billion, cementing his status as one of the most influential figures in the world.
Leave a comment