Elon Musk donates $112 million worth of Tesla stock: what the regulatory filing said

Tesla CEO Elon Musk has donated 268,000 Tesla shares worth nearly $112 million to charity, according to a Dec. 30 regulatory filing. This is not the first time Musk has made large charitable donations. In 2022, he donated $1.95 billion in Tesla stock to charity in several transactions between August and December. In 2021, he donated $5.7 billion in Tesla stock, which was later revealed to have gone to his own foundation.

Why Elon Musk donated his shares

The shares, as indicated in the filing with the Securities and Exchange Commission (SEC), were donated as part of Musk’s “year-end tax planning” to “certain charities” that “have no current intention to sell said shares,” according to the presentation. presented. The charities that received the shares are not named and do not plan to sell them in the short term, according to the document.
Despite this donation, Musk, the richest person in the world with a net worth of more than $415 billion (according to Bloomberg), still owns about 411 million Tesla shares through a trust he created in 2003. As of last year, Musk owned about 13% of Tesla’s total shares, according to a 2024 company report.
Musk, who also runs companies such as SpaceX and social media platform by Tesla shareholders.

Judge rejects Elon Musk’s salary

In December of last year, a Delaware judge once again rejected Elon Musk’s record compensation package at Tesla. This means that Tesla CEO Musk cannot access a pay package whose potential value has skyrocketed along with Tesla’s stock price. “The salary package amounted to 101.4 billion dollars as of Monday, according to the remuneration consulting firm Equilar.”
Read more: The richest man in the world fights for his salary and loses again