Elon Musk donated billions of Tesla shares to charity

Should we see a cause and effect relationship? Just days after the plan put forward by the United Nations World Food Program that it needed $6 billion to help fight world hunger, Tesla boss Elon Musk donated more $5.7 billion to charity through Tesla stock. That’s 5.044 million shares in total, reports Insider Markets.

This charitable donation was disclosed in a document from the US Securities and Exchange Commission (the US federal financial market regulator), which does not, however, specify the charities concerned, but that a trust was involved in it. According to our colleagues, these donations came when Elon Musk had to sell other shares to cover the taxes related to his options.

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This information is all the more astonishing since at the end of October, the billionaire had challenged the UN to prove to him that with these 6 billion dollars, hunger could be eradicated in the world. But the United Nations World Organization had responded with a detailed plan and the measures to be put in place. Enough to tip the balance? Asked by Insider Markets, Tesla declined to comment. The United Nations World Food Program also did not reveal whether it was the main beneficiary.

Considered the richest man in the world with an estimated fortune of 255 billion dollars, Elon Musk could also pay the highest taxes in history. Its tax bill is thus estimated at 10 billion dollars in 2021. On the other hand, as Capital mentioned a few days ago, despite a record year 2021, Tesla should not pay tax this year on American territory since the most of the profits were made abroad.

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